Banco do Brasil reinforces rural credit lines with R$1 billion

Banco do Brasil announced this Tuesday (10) the release of R$1 billion to reinforce its rural credit lines, aimed at financing agricultural machinery and equipment. The contract will use its own resources from rural savings, with a rate of 7,5% per year and a term of up to six years.

According to the bank, the amount complements volumes initially made available for the 2020/2021 harvest, which has already disbursed R$9,1 billion in agricultural investment operations, 27% more than the same period in the previous harvest.

“Our objective is to meet a growing demand in the sector, boosting the production chain of manufacturing and reselling companies and contributing to technological transformation in the field”, declared BB vice-president, João Rabelo, in a statement.