Brazil adds R1.4bn to farm credits in 2023-24 crop
Brazil's development bank Bndes will make an additional R1.4bn ($278mn) available for its subsidized farm loan plan for the 2023-24 crop.
The amount will be available on 11 April and will be for credit operations under the program, known as Plano Safra. Brazil's federal government initially offered R364.2bn in loans to medium-sized and larger farmers and R71.6bn for family farming for the 2022-23 season.
Bndes has approved more than R28bn for the 2023-24 Plano Safra, a 23pc increase from the same period in the previous season, it said.
The bank still has R4.6bn available to transfer to farmers — who can request loans until June — including the latest addition.
The loans offered under the program are destined for the crop year starting on 1 July 2023 and ending on 30 June 2024.
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