Brasília – The Bank of Brazil is going to make available 30.8 billion Brazilian reals (US$ 19.1 billion) for the financing of rural credit in the 2008/2009 crop. The value corresponds to an increase of 25% over that made available in the previous crop, when funds totalled 24.7 billion (US$ 15.3 billion).
Of the value announced this morning (07), R$ 7.8 billion (US$ 4.8 billion) are going to benefit family farming and the remains is going to supply other producers and their cooperatives. According to the Agribusiness vice president at the Bank of Brazil, Luiz Carlos Guedes Pinto, the funds are already being made available for farmers. "Producers may go to banks to start the process for credit," he explained.
*Translated by Mark Ament
