BNDES line with fixed rate in dollars for rural credit has increased allocation by R$4 billion | Companies

BNDES line with fixed rate in dollars for rural credit has increased allocation by R$4 billion | Companies
BNDES line with fixed rate in dollars for rural credit has increased allocation by R$4 billion | Companies
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The National Bank for Economic and Social Development (BNDES) approved a set of measures that expand the reach and improve credit conditions for the agricultural sector. The bank will increase the line with fixed rate in dollars for rural credit by R$4 billion, as Broadcast Agro (Grupo Estado’s real-time news system) had anticipated, and by R$2 billion for cooperative credit.

The president of BNDES, Aloizio Mercadante, highlighted that the measures announced reinforce the bank’s commitment to promoting financial inclusion and offering better financing conditions for agribusiness.

“Under the guidance of President Lula, these initiatives reinforce support via credit cooperatives and expand resources for the BNDES Rural Credit line with a fixed rate in dollars, stimulating investment and competitiveness in the sector, especially among small business owners and rural producers “, he said in a note before the start of the event, at the bank’s headquarters in Rio de Janeiro this Friday morning.

In addition to increasing the budget for cooperatives, Procapcred had its validity extended until 2025. The bank also increased the financing limit, from R$30 thousand to up to R$100 thousand per customer, every two years, in addition to reducing rates and extension of terms, with a special focus on cooperative members in the North and Northeast Regions.

In operations with clients in these regions, BNDES’ basic remuneration was reduced from 1.1% per year (aa) to 0.8% pa, and the maximum financing term was now up to 15 years. For other regions, the deadline was extended from 10 to 12 years. The program’s grace period, of up to two years, remains the same for all financing.

In another initiative, BNDES concluded this week raising R$808 million in Agribusiness Letters of Credit (LCA), through a private offering in the domestic market.

The issuance of LCAs was the first carried out by the bank since 2016 and had demand four times higher than the value offered.

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