São Paulo – The Brazilian Ministry of Agrarian Development and the National Motor Vehicle Manufacturers Association (Anfavea) have signed a cooperation agreement for selling agricultural machinery to family farmers this Friday (17th). The partnership is a way to enable access of small-scale growers to new equipment at subsidized prices. On the other hand, it boosts equipment sales.
The contract is part of the More Food government program, established in 2008 but interrupted later. Via this partnership, farmers will have financing for buying machines over a ten-year period. There is a 3-year grace period before loan repayments, and interest rates range from 1% to 2% per annum.
According to information from the Ministry, the program has financed the purchase of 80,000 tractors and 47,000 cargo transport vehicles. Presently, 525 companies are registered with the More Food program.
*Translated by Gabriel Pomerancblum
