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


Reuters/Rodolfo Buhrer

In addition to expanding the dollar line, BNDES announced changes to the BNDES Procapcred program

O National Bank for Economic and Social Development (BNDES) announced this Friday (2) the expansion by 4 billion reais of the financing line in dollars for Brazilian rural producers, according to a presentation by the institution’s financial and Digital Credit director for MSMEs, Alexandre Abreu.

Launched in April 2023, the BNDES Fixed Rate in Dollars (TFBD) offers a financing option with a cost linked to exchange rate variation, which is advantageous for clients whose income is linked to the dollar.

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Within the scope of this line, the amount approved using the TFDB totaled R$3.62 billion in 2023, from an initial available budget of R$4 billion, according to the BNDES, this Friday.

In view of this, BNDES decided to increase its allocation by 4 billion reais, taking the total available in financing using the dollar rate to R$8 billion.

The expansion of the line was announced at a time when the government is looking for ways to irrigate the credit market, as producers face lower soybean prices, in addition to a crop failure in several regions.

The day before, Agriculture Minister Carlos Fávaro told Reuters that the Brazilian government is evaluating the possibility of launching a financing line in yuan for farmers.

“We had bad weather, we had difficulties with flat commodity prices. We are alongside the producers, we are thinking about more lines of credit, more opportunities, so that we do not let any producer sleep in uncertainty about how the future of their activity will be conducted”, said Fávaro, during the event.

In addition to expanding the dollar line, BNDES announced changes to the BNDES Procapcred program, which supports credit cooperatives, with an increase of 2 billion in the budget, expanded access for individuals and different rate and term conditions for the North and Northeast.

Established in 2006, Procapcred was created with the aim of strengthening the equity structure of credit cooperatives, offering direct financing to members to acquire shares in the capital of individual credit cooperatives.

The program’s conditions were updated over the years, being incorporated into the BNDES product portfolio in 2015. Since then, BNDES Procapcred has approved around 1.4 billion reais in operations with more than 170 thousand credit unions.

The article is in Portuguese

Tags: BNDES expands financing line dollars rural producers billion



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