AID TO RIO GRANDE DO SUL EXPECTED AT BRL 600 MILLION FOR CREDIT CONTRIBUTION

Brazil’s president proposed steps towards recovering Rio Grande do Sul, including an additional BRL 600 million in rural credit, mostly for family farmers. A new credit line of BRL 50 million has been set up for emergency repairs at research facilities, and a financing of up to BRL 15 billion for businesses. In addition, the President signed a temporary legislation involving credit unions to help the state. According to the Ministry of Agrarian Development, the additional resources to the Operations Guarantee Fund will be used to cover loans from Pronaf and the National Support Program for Medium Rural Producers, as well as to facilitate circumstances and provide considerable discounts to farmers in disaster-affected areas.
Source: Canal Rural (*Translated by Ia Niani)