SÃO PAULO (Reuters) – The National Bank for Economic and Social Development (BNDES) announced this Friday the expansion by 4 billion reais of the financing line in dollars for Brazilian rural producers, according to a presentation by the financial and Digital Credit director for MSMEs of the institution, 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.
Within the scope of this line, the amount approved using the TFDB totaled 3.62 billion reais in 2023, from an initial available budget of 4 billion reais, 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 8 billion reais.
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.
(By Roberto Samora)