Success of the BNDES dollarized rural credit line showed the need to allocate more resources, said Carlos Fávaro (Agriculture)
The value of the resources that will be made available for complementing the 2022/23 Crop Plan, which ends on June 30, will be R$ 200 million. The amount should allow the equalization of approximately R$ 8.4 billion for immediate application in Moderfrota’s financing programs, in irrigation and other investments and in pre-costing and costing. The announcement was made by the Minister of Agriculture and Livestock, Carlos Favaro.
According to Fávaro, the measure was necessary because the current Crop Plan was unable to meet all the producers’ demands for this credit.
“We had investments that had been paralyzed for a long time. Also in January, when the president of the BNDES, Aloizio Mercadante, took over, R$ 2.7 billion were released for investments, which were quickly taken, and we then began the search for budget complements. We sought to complement resources by reallocating other budgets so that we could make the amounts available for the Safra Plan”, he explained.
According to the minister, the success of the dollarized rural credit line of the BNDES (National Bank for Economic and Social Development), built with the ministry, showed the need to allocate more resources for this special type of funding. He also said that the adjustment was made to contemplate the producers and enable them to continue making investments and preparing for pre-funding until the arrival of the new Crop Plan.
“With interest of 7.59% per year, plus exchange variation in dollars, cheaper than the Safra Plan, without compromising Treasury resources, it was a great novelty with high aptitude for producers”, he evaluated.
With information from Brazil Agency.
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