Funcafé’s 37 financial agents are now available

The total lines of credit for financing the production and recovery of damaged coffee plantations from the Coffee Economy Defense Fund (Funcafé) are now available from the 37 financial institutions, including banks and cooperatives able to operate this season. Contract extracts were published in the Official Gazette of the Union (DOU). 

Brazilian coffee growers can now access the Fund's R$6,058 billion made available for this 2022/2023 harvest.

The financial agents are: Banco ABC Brasil, Banco Bandes, Banco Banestes, Banco China Construction Bank S.A., Banco BNP Paribas Brasil, Banco Bradesco, Banco Regional do Brasília - BRB, Caixa Econômica Federal, Banco Citibank S.A, Banco Cooperativo Sicoob S.A - Banco Sicoob, Banco Cooperativo Sicredi, Banco de Desenvolvimento de Minas Gerais-BDMG, Banco do Brasil, Banco Fibra, Banco Inter S.A, Banco Itaú Unibanco S.A, Banco RaboBank, Banco Regional de Desenvolvimento do Extremo Sul - BRDE, Banco Ribeirão Preto, Banco Safra, Banco Santander Brasil , Banco BTG Pactual S.A, Banco Votorantin, CCLA de Carmo do Rio Claro-SICOOB CREDICARMO, Coop. Free Administration Credit in the Varginha Region - Sicoob Credivar, CCLA in the Southwest of MG and Northeast of SP- SICOOB AGROCREDI, CCLA in the Alpinópolis Region-SICOOB CREDIALP, CCLA in Patrocínio-SICOOB COOPACREDI, Cooperativa de Cred. Rural dos Prod. De Cana da Reg. de Guaranésia – SICOOB CREDINTER, Central Credit Cooperative of Minas Gerais - SICOOB CENTRAL CREDIMINAS, Central Credit Cooperative of Espírito Santo - SICOOB CENTRAL ESPÍRITO SANTO, Free Admission Credit Cooperative of Western Mineiro-SICOOB CREDICOPA, Desembahia - Bahia State Development Agency, Coop. of Free Administration Credit in the Carmo do Paranaíba Region - Sicoob Credicarpa, Economy and Mutual Credit Cooperative - SICOOB CREDICOM, Central Credit Cooperative with Solidarity Interaction - CRESOL BASER and Noroeste de Minas Credit Cooperative - SICOOB NOROESTE DE MINAS.

The resources are disbursed by Funcafé as requested by financial agents. Of the R$6,058 billion contracted, R$4,752 billion have already been disbursed to financial institutions. 

The available credit lines are intended for financing the cultivation of crops, storage, marketing and acquisition of the product, working capital for industries and production cooperatives, and also for the recovery of coffee plantations damaged by hailstorms, frost, windstorms or other climatic phenomena.

The available resources are distributed along the following lines:

I – funding credit: up to R$1,57 billion 

II – commercialization credit: up to R$2,17 billion 

III – Financing for Coffee Acquisition (FAC): up to R$ 1,38 billion 

IV – credit for working capital for instant coffee and coffee roasting industries and for production cooperatives: up to R$775 million

V – credit for the recovery of damaged coffee plantations: R$ 160 million

Funcafé's interest rate for this harvest is limited to 11%. The Fund's remuneration was established at 8%, maintaining the financial agent's remuneration at up to 3%, with free negotiation between the parties.