The president of the BNDES, Aloizio Mercadante, said that the initiative will enable investments in innovation in the field.| Photo: Guilherme Martimon/MAPA.

The National Bank for Economic and Social Development (BNDES) announced this Monday (17) a rural credit line of around R$ 2 billion aimed at rural producers who have income or contracts in dollars. The interest rate will be fixed at 7.59% per annum, plus the exchange variation. The credit is aimed at the purchase of domestically manufactured agricultural machinery and equipment.

“To have access to financing, the producer must have revenues or contracts in dollars or linked to exchange variation and have a credit limit in partner banks” and seek one of the financial agents accredited to the BNDES, said the Ministry of Agriculture, in a note. The new rural credit line will be available from May.

The president of the BNDES, Aloizio Mercadante, said that the initiative will enable investments in innovation in the field. The Minister of Agriculture, Carlos Fávaro, explained that credit lines with interest equalization by the Treasury will continue to be offered to producers who do not have revenue linked to international sales.

“Whoever produces milk, beans, rice, will have to have credit lines in reais. And for that we are going to structure new lines, including with the participation of the Treasury. But producers whose revenue is linked to international sales do not have the risk of making the operation in dollars and also has no cost for the Treasury”, said Fávaro when participating in the announcement via videoconference.