BNDES EXPANDS FINANCIAL RESOURCES FOR FARMERS

BNDES announced an increase of BRL 4 billion in dollar financing resources for rural farmers, bringing the total to BRL 8 billion accessible. The BNDES Fixed Rate in Dollars (TFBD), which debuted in April 2023, provides financial resources at a fee related to exchange rate fluctuations. The expansion comes as farmers confront obstacles such as low soybean prices and crop disasters. The Brazilian government is also contemplating setting up a yuan funding line. In addition, BNDES announced improvements to the BNDES Procapcred program, including a BRL 2 billion budget increase and extended individual access, as well as varied conditions for the North and Northeast regions.
Source: Reuters / Money Times (*Translated by Ia Niani)