What is "banadesa"

BANADESA, the National Bank for Agricultural Development (Banco Nacional de Desarrollo Agrícola in Spanish) is a financial bank in Honduras, founded on February 16, 1950, under the name BANAFOM or NATIONAL DEVELOPMENT BANK OF HONDURAS (BANCO NACIONAL DE FOMENTO DE HONDURAS in Spanish) and opened on the first of July of the same year. It is an autonomous institution of the State of Honduras and its aims are to promote development in the country and provide access to credit for entrepreneurs and livestock and cattle farming, among others.

In the 1980s it was renamed BANADESA, its name today, through Decree No. 903 dated 24 March 1980. The current president of Honduras, Juan Orlando Hernandez, appointed Carlos Noe Ramirez as the new manager in August 2015.