The National Bank for Economic and Social Development (BNDES) published a set of measures aimed at expanding and improving credit conditions for the agricultural sector. Initiatives include program changes BNDES Procapcredincrease in the allocation for the BNDES Rural Credit line with a fixed rate in dollars, and a successful funding in Agribusiness Letters of Credit (LCA).
BNDES Procapcred, created in 2006 and incorporated into the portfolio in 2015, received a new allocation of R$2 billion, extending its validity until the end of 2025. The program, which aims to strengthen the equity structure of credit cooperatives, now includes any individual member of a credit union or cooperative bank resident and domiciled in Brazil.
Furthermore, the financing limit was increased from R$30,000 to up to R$100,000 every two years per customer. Rates were reduced, and terms were extended, with different conditions for members in the North and Northeast regions, aiming to boost access to credit in these areas.
In the BNDES Rural Credit line with a fixed rate in dollars, the Bank increased the allocation by R$4 billion, totaling R$8 billion to finance rural producers and production cooperatives. This rate option is considered essential for entrepreneurs in the sector with revenues linked to the dollar, providing security in the face of exchange rate variations.
A successful fundraising in Agribusiness Letters of Credit (LCA) in the amount of R$808 million will contribute to reinforcing BNDES funding intended for financing investments in agricultural activity. The resources from these funding give BNDES the ability to offer competitive rates to agribusiness, expanding access to credit and promoting sustainable development in the countryside.
The president of BNDES, Aloizio Mercadante, highlights that these measures reflect the Bank’s commitment to promoting financial inclusion and offering better financing conditions for agribusiness. The event to detail the initiatives was attended by the Minister of Agriculture and Livestock, Carlos Fávaro, reinforcing the importance of these actions for the sector.