Photo: Mexican ranchers
The government will provide 2.46 billion pesos ($199 million) in assistance to ranchers affected by droughts and freezes in Mexico, Agriculture and Ranching Secretary Enrique Martinez y Martinez said.
The assistance will go to ranchers in several states, Martinez said in an address at the 77th National Ranching Organizations Assembly.
Some of the funds will be used to guarantee loans totaling 5.7 billion pesos ($462 million), increasing total resources available for ranchers to 8.16 billion pesos ($662 million), the agriculture secretary said.
Officials have taken a number of measures to deal with the emergency in the ranching industry, such as increasing the availability of credit and building water harnessing and storage facilities, Martinez said.