Brazil – Creation of a fund for the agroalimentary sector

The Brazilian government is preparing the creation of a fund that will guarantee the survival of the agroalimentary sector. The objective is for the Bank of Brazil (70% of the shares are owned by the government) to manage the fund, since the bank has a long tradition of giving credit to the rural sector. The value of the fund would be 3,350 million euros.
Wednesday 8 July 2009 (8 years 7 months 14 days ago)
The Brazilian government is preparing the creation of a fund that will guarantee the survival of the agroalimentary sector. The objective is for the Bank of Brazil (70% of the shares are owned by the government) to manage the fund, since the bank has a long tradition of giving credit to the rural sector. The value of the fund would be 3,350 million euros.

Producers claim that the international crisis and the agricultural debts built up in recent years are stopping the banks from giving credit. The fund, depending on the guarantees, would be orchestrated to give backing to the indebted producer.

(Original in Spanish. Read Google translation here).

http://www.mapa.es/ministerio/pags/notexterior/pdf/bo223.pdf

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