Coffee growers in Minas Gerais will receive an additional R$96 million from Funcafé

Coffee farmers in Minas Gerais have an additional R$96 million available for financing from the Coffee Economy Defense Fund (Funcafé) allocated by the Minas Gerais Development Bank (BDMG). The additional volume of resources will be offered after the bank disburses, in just over three months, the entire amount allocated to coffee in the 2024/2025 harvest, thus seeking more resources to operate.

In total, R$330 million will be made available in the Funcafé line for marketing, purchase and sale and working capital in the current harvest, a volume 40% higher than that offered and released by BDMG in 2023/2024. The financing will reach cooperatives, producers and companies, encouraging agribusiness in the state.

BDMG President Gabriel Viégas Neto points out that financing in agribusiness is essential to strengthen the sector, which has Minas Gerais as the national leader in production. “We monitor the reality of coffee growers and, certainly, this is a credit that will help them to be even more competitive in the market and be prepared to face the challenges of 2025”, he states.

Since the 2018/2019 harvest year, BDMG has disbursed 100% of its Funcafé resources, and has exceeded R$2,2 billion in credits released under this line in the last decade. In total, the bank made R$1,4 billion available in credit to strengthen the state's agribusiness in the 2024/2025 harvest, 15% higher than the total released by the institution in the last harvest, which was R$1,23 billion.