Law 448

Original Language Title: Ley 448

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law no 448

LAW OF DECEMBER 4, 2013

EVO MORALES AYMA

CONSTITUTIONAL PRESIDENT OF THE PLURINATIONAL STATE OF BOLIVIA

For the Plurinational Legislative Assembly, has sanctioned the following Act:

THE PLURINATIONAL LEGISLATIVE ASSEMBLY,

DECRETA:

Article 1. this Law aims to create three (3) programs, under the Ministry's dependence

of Rural Development and Lands, in order to strengthen the agricultural sector, prioritizing small and medium-sized producers. how, to establish the financing mechanisms for the execution of the same.

Article 2. (CREATION AND COMPOSITION OF PROGRAMS).

I. In order to strengthen the agricultural sector, to ensure food security with sovereignty for the benefit

of the Bolivian population, in the framework of this Law, the following programs are created:

National Fruit Program;

National Horticultural Production Program, and;

National Minor Rummies and Fishing Program.

II. Each of the programs defined in the preceding paragraph, includes as one of its components the

financial services; the rest of the components will be established through the Supreme Regulatory Decree.

III. The Ministry of Rural Development and Lands, through the Vice-Ministry of Rural and Agricultural Development, will be the

in charge of the process of implementation and implementation of the programs mentioned in Paragraph I of this Article.

Article 3. (FINANCING OF THE PROGRAMS).

I. The execution and implementation of the programs outlined in the preceding Article, will be financed with resources:

From the State Treasury with the following amounts:

Bs.69,591.136.-(Sixty-Nine Million Five Hundred-Ninety-One-Thousand-Hundred and Six-00/100 Bolivians), for the National Fruit Program.

From up to Bs.69,527,682.-(Sixty-Nine Million Five Hundred Twenty-seven Thousand Six hundred and eighty-two 00/100 Bolivianos), for the National Horticultural Production Program.

From up to Bs.69,594.803.-(Sixty-Nine Million Five Hundred Nineties and Four Mil Ochocidents Three 00/100 Bolivianos), for the National Program of Minor Rummies and Fisheries.

Additionally to the resources allocated in The numeral 1 of this Paragraph, the Ministry of Rural Development and Lands, will be able to manage resources from other sources of internal and/or external financing, prior to compliance with the current regulations.

II. The Ministry of Economy and Public Finance, through the State Treasury-TGE, is authorized to transfer to the

Ministry of Rural Development and Lands, the resources set out in Paragraph I of this Article, which will be disbursed according to the implementation plan and execution schedule of each of the programs.

Article 4. (RESOURCE ALLOCATION). I. The resources from the General Treasury of the State-TGE

for the Programs mentioned above, will be assigned as follows:

Financial Services;

Public investment projects;

Public-private transfers in kind and/or cash, and;

Up to seven percent (7%) of the amount allocated to each program, for operating expenses.

II. The resources set in the numeral 2 Paragraph I of the preceding Article shall be assigned according to

conventions to be subscribed to.

Article 5. (FINANCIAL SERVICES).

I. For the purpose of executing the financial services component, the Ministry of Rural Development and Lands, is empowered to select and subscribe to contracts for the administration and provision of financial services with financial intermediation entities regulated by the Financial System Supervision Authority-ASFI and/or Development-IFD Financial Institutions in process of incorporation into the scope of the current regulations.

II. The resources of the financial services component, may be applied in the granting of individual, associative, community, microcredit credits under the technology of communal banking, leasing operations, constitution of guarantee funds and other financial products or mechanisms aimed at providing financial support to the beneficiaries of the programs established in this Law.

III. Credit transactions may be admitted in support of the same non-conventional guarantees, in terms that do not require their registration in public records or the fulfilment of other usual formalities and practices in the case of guarantees They will also be able to recognize the endorsement or certification of indigenous indigenous communities, intercultural communities, Afro-olivianas and others.

IV. Credit operations may exceptionally be the subject of reprogramming of the capital owed, and the debtors must pay interest and others to access it. Reprogramming may apply when it is verified that the default was due to factors associated with natural disasters or other contingencies beyond the will of the borrower. These credit operations under no circumstances may be waived.

V. The commissions for the administration and provision of financial services that the financial intermediation and IFD entities charge, in the framework of the signed contracts, will be covered with resources of the financial services component.

VI. The Ministry of Rural Development and Lands, shall carry out special monitoring of the use of the resources under the administration of the contracted financial intermediation and IFD entities, ensuring that the same are used for the purposes for the which were designed to contribute to food security with sovereignty.

TRANSITIONAL ARRANGEMENT

ONLY.

I. Within a period of no more than ninety (90) calendar days, computable as of the publication of this Law, the Ministry of Rural Development and Lands, shall draw up the corresponding regulations, which shall be approved by Supreme Decree.

II. Within a period of no more than sixty (60) calendar days of approval of its Supreme Regulatory Decree, the Ministry of Rural Development and Lands, through Ministerial Resolution, will approve the Implementation Plan, which will include the disbursements and will regulate the public-private transfers of the programs described.

FINAL DISPOSITION

ONLY. The Ministries of Development Planning, Economy and Public Finance, and

Rural Development and Lands, are authorized to carry out the budgetary transfers and corresponding records, in the field of their competencies and in the framework of the current legal regulations, for compliance with this Law.

Remitase to the Executive Body for constitutional purposes.

It is given in the Session Room of the Plurinational Legislative Assembly, at thirteen days of the November of the

year two thousand thirteen.

Fdo. Nelida Sifuentes Cueto, Lucio Marca Mamani , Andres Agustín Villca Daza, Claudia Jimena Torres

Chávez, Galo Silvestre Bonifaz, Angel David Cortes Villegas.

Therefore, it is enacted to have and comply with the law of the State. Plurinational of Bolivia.

Palace of Government of the city of La Paz, four days in December of the year two thousand thirteen.

FDO. EVO MORALES AYMA, Juan Ramon Quintana Taborga, Luis Alberto Arce Catacora, Nemesia

Acacollo Tola, Amanda Davila Torres.