2023-05-10 01:45:34
© Reuters. Ceremony of inauguration of Aloizio Mercadante as President of the National Bank for Economic and Social Development (BNDES), Rio de Janeiro 02/06/2023 REUTERS/Ricardo Moraes
SAO PAULO (Reuters) – The National Bank for Economic and Social Development (BNDES) increased by another 2 billion reais the resources available in its rural financing line for agricultural producers whose income is in or linked to the US currency, reported the state bank this Tuesday.
The line was announced in mid-April, initially with an availability of 2 billion reais, and benefits with lower rates, mainly farmers who grow export products.
According to the government, the initial demand exceeded the 2 billion reais offered, hence the doubling of the initial value.
The facility has a fixed interest rate of approximately 7.59% per year plus exchange variation, up to a 24-month grace period and up to a 120-month term for financing payments.
(By Andre Romani)
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