Banco do Brasil reinforces support for rural producers with R$10,5 billion

This Tuesday (24/08), Banco do Brasil announces reinforcement of actions to support agribusiness with R$10,5 billion in additional resources for rural financing. The announcement was made this afternoon at an event at Palácio do Planalto, in the presence of the President of the Republic Jair Bolsonaro and the Minister of Agriculture, Livestock and Supply, Tereza Cristina.

To support the expansion of technology, sustainability and infrastructure in the countryside, Banco do Brasil launched the BB Investimentos Agro Program, with a total volume of R$8,5 billion.

Under the Program, R$5,5 billion will be allocated to financing renewable energy, irrigation, integrated production, pasture recovery, machinery and equipment. For storage, R$2 billion was made available with the aim of financing the modernization and acquisition of silos and warehouses and another R$1 billion to serve small and medium-sized producers with BB Consórcio Armazenagem.

In addition to investment resources, Banco do Brasil reinforces its partnership with producers at all times, providing R$2 billion to mitigate the effects of frost. The volume will finance the recovery of damaged coffee plantations and the renewal of affected crops.

On the 17th, the Federal Government had already made available a credit line of R$1,3 billion for affected coffee growers in the South and Southeast regions, through a measure by the National Monetary Council. 

The president of BB, Fausto Ribeiro, highlights that of the R$135 billion announced by the Bank in the biggest Safra Plan in history, R$23 billion has already been released between July and August, which demonstrates a strong demand from the sector for the resources. The record disbursement represents an increase of 61% compared to the same period in the previous harvest, reaching more than 4.400 municipalities with rural credit. "Once again, we reinforce our support for Brazilian rural producers, both to seek the best harvest ever and to help those affected by frost", he adds.   

BB Investimentos Agro Program - R$ 8,5 billion

Frosts - Support for Producers - R$ 2 billion