Banco do Brasil announces funds of R$10.5 billion for rural financing

Banco do Brasil announced this Tuesday, additional resources of R$ 10.5 billion that will be earmarked for rural financing. The announcement took place at an event held at the Palácio do Planalto, which was attended by the President of the Republic Jair Bolsonaro and the Minister of Agriculture, Tereza Cristina.

During the event, Banco do Brasil launched the BB Investimentos Agro Program, with a total volume of R$ 8.5 billion. The resources should support the expansion of technology, sustainability and infrastructure in the field,

Under the Program, R$5.5 billion will be allocated to financing renewable energy, irrigation, integrated production, pasture recovery, machinery and equipment. For storage, R$ 2 billion were made available to finance the modernization and acquisition of silos and warehouses, and another R$ 1 billion to serve small and medium producers with BB Consórcio Armazenagem.

In addition to the resources for investments, Banco do Brasil announced a resource of R$ 2 billion that will be earmarked for producers who suffered losses from the frost. According to the bank, the volume will finance the recovery of damaged coffee plantations and the renewal of affected crops.