THE SUGAR-ENERGY SECTOR FINANCED R$2.67 BILLION VIA BNDES IN 2023, AN ANNUAL INCREASE OF 57.9%

In 2023, the National Bank for Economic and Social Development (BNDES) provided R$2.67 billion to sugar and ethanol companies, a 57.9% increase from 2022’s R$1.69 billion. This funding supported 68 companies across 56 groups, mainly driven by industrial demands, which saw a 74.6% increase to R$1.71 billion. Jalles, a group in Goianésia (GO), led the sector with R$320 million in financing for 12 industry support projects. Additionally, the RenovaBio line saw a 27.1% increase to R$594 million. With an increased budget, BNDES aims to make R$3.5 billion available in credit next year, potentially raising the funding further.
Source: Nova Cana