Brasília – The Bank of Brazil allocated 34.7 billion Brazilian reals (US$ 19.7 billion) in rural credit in the 2009-2010 crop. The volume is 14.2% lower than in the previous crop. Family farming received 8.7 billion reals (US$ 4.9 billion), and other growers and cooperatives received 26 billion reals (US$ 14.7 billion).
"With these investments, the Bank of Brazil remains the leader of the Brazilian rural credit sector," said the vice president of Agribusiness at the Bank of Brazil, Luís Carlos Guedes Pinto, during a press conference in which the balance sheet of loans granted in the 2009-2010 crop year was disclosed.
Out of these funds, 21.6 billion reals (US$ 12.2 billion) went into funding operations, equivalent to 62.3% of the total. Funding operations received 7.3 billion reals (US$ 4.1 billion), representing growth of 39.2% over the 2008-2009 crop.
*Translated by Gabriel Pomerancblum
