August 19, 2022

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Banco do Brasil maintains a reserve of 200 billion R$ for the 22/23 Safra . plan

Banco do Brasil maintains a reserve of 200 billion R$ for the 22/23 Safra . plan

By increasing the amount allocated to agribusiness, BB broke a record, as it will be the largest amount ever provided by the bank to this sector. know more!

Photo: SERGIO VS RANGEL / Shutterstock.com

Estimated reading time: 3 Minutes

a Bank of Brazil It confirmed last Tuesday (5) that it will allocate 200 billion Brazilian reals to the 2022/23 crop plan, which was created to boost Brazilian rural production. This amount is 48% higher than the previously invested amount, about R$135 billion.

By increasing the amount allocated to agribusiness in the country, BB broke a record, which will be the largest amount ever by a bank for the sector, one of the most relevant to the sector. Economie Brazilian.

The amount provided by Banco do Brasil will serve many programs

Of the released amount, R$24 billion will be allocated to family farming, which is monitored by the National Program for the Promotion of Family Farming (Pronaf). About 21.1 billion Brazilian reals will be allocated to the National Support Program for Rural Medium Producers (Pronamp).

Moreover, commercial agriculture will receive R$110 billion of the R$200 billion issued by BB. The value of operating and agricultural securities will be 24.5 billion R$ and the other cores of the agricultural business chain will be covered by R$ 20 billion.

Safra plan rates and Banco do Brasil investments

On June 29, the rates for the new Safra plan were announced at an event in Palácio do Planalto. For family farming, with Pronaf, interest ranges from 5% to 6% per annum. Under Pronamp, medium-sized producers will have an interest of 8% per annum. For larger products, prices will range from 12% to 12.5% ​​per annum.

In the 2021/22 crop plan, BB invested R$153 billion. Thus, according to the bank’s board of directors, the commitment to family farming was renewed, in which more than 325,000 employees were hired out of a total of 580 thousand.

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The Safra plan was drawn up in 2003 to boost Brazilian rural production. The federal government annually allocates resources to invest or finance the production and marketing of agricultural products.

Finally, the program includes many public policies, particularly those aimed at family farming and cooperatives. The goal is to allocate funds for small and medium-sized products to become professional.

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Photo: SERGIO VS RANGEL / Shutterstock.com