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BNDES expands credit line in dollars for rural producers by R$4 billion

BNDES expands credit line in dollars for rural producers by R$4 billion
BNDES expands credit line in dollars for rural producers by R$4 billion

The BNDES (National Bank for Economic and Social Development) announced this Friday (2) the expansion of resources provided for credit in the agricultural sector.

One of the highlights is the increase of R$4 billion in the budget for a line with a fixed rate in dollars and a focus on exporters. The bank also confirmed an additional R$2 billion for a support program for credit unions.

The announcement comes amid pressure from agribusiness representatives for measures to support the segment, which deals with the effects of climate problems in Brazil. In the current harvest, producing regions feel the effects of extreme events, such as heat waves, drought and heavy rains.

The release of more resources for agriculture was announced at a ceremony at the BNDES headquarters, in Rio de Janeiro. Present at the event, the Minister of Agriculture, Carlos Fávaro, said that this year’s harvest will be “difficult in terms of income for the countryside”.

“This scenario is being evaluated preventively so that we can give producers peace of mind,” he stated. “Obviously, no one will be left in uncertainty and in default due to lack of a credit line”, he promised.

Launched in April 2023, the TFBD (BNDES Fixed Rate in Dollars) offers a financing option with a cost linked to exchange rate variation. This, according to the bank, is advantageous for customers with income in dollars.

Within the scope of the BNDES Rural Credit program, the amount approved using the TFDB totaled R$3.6 billion in 2023, from an initial available budget of R$4 billion.

Now, BNDES has decided to increase the allocation by R$4 billion, taking the total available in financing to R$8 billion.

Another initiative announced this Friday involves the BNDES Procapcred program, aimed at credit cooperatives. The institution confirmed an increase of R$2 billion in the budget for the initiative, effective until December 31, 2025.

“This value of R$ 2 billion for us is credit, but for the borrower it is equity, he enters as a member of the cooperative. By entering as a partner, he capitalizes the cooperative and allows an average leverage of nine times the incoming capital”, he stated the president of BNDES, Aloizio Mercadante.

The bank said that this week it completed a fundraising of R$808 million in LCAs (Agribusiness Letters of Credit) through a private offering in the domestic market.

According to the institution, the issuance of LCAs was the first to be carried out since 2016 and had demand four times higher than the value offered. “As these titles are linked to agribusiness credit rights, the funding contributes to composing BNDES funding intended for financing investments in agricultural activity”, stated the bank.

(Leonardo Vieceli / Folhapress)

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The article is in Portuguese

Tags: BNDES expands credit line dollars rural producers billion



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