Top Banks Bet on Argentine Farming Boom With Milei Cutting Taxes

Two major banks in Argentina are seeking to open up more credit for farmers as President Javier Milei tears down economic barriers, including chopping export tariffs for growers.

The local unit of Spanish giant Banco Santander SA and Argentina’s biggest private bank, Grupo Financiero Galicia SA, are expanding a venture — called Nera — that offers loan options to crop growers as well as seed, fertilizer and pesticide providers like Syngenta AG and Corteva Inc. Nera is projecting $1.5 billion of credit lines in 2026, which would be a 36% jump from this year’s expected figure.