BNDES reopens lines and announces an additional BRL 2.9 billion in rural credit for the 2022/23 harvest

The National Bank for Economic and Social Development (BNDES) announced this Thursday (26) the reopening of rural credit lines as of February 1st and, with that, provides for the release of additional resources of R$ 2.9 billion to finance the 2022/23 harvest, according to the bank’s statement.

The measure came after suspension of protocols and contracting of new credit operations under the Federal Government Agricultural Programs (PAGF), in the second half of 2022, due to the level of commitment of resources.

Of the total estimated by the bank, family farming has a share of BRL 491 million, while medium and large producers will have access to BRL 2.4 billion for funding and investment, said the BNDES.

Some of the lines that were reactivated are: Pronaf (family farming), Pronamp (medium producer), Moderfrota (agricultural machinery and equipment), PCA (storage) and Plano ABC (low carbon agriculture).

The bank emphasized that it remains an important supporter of the agricultural sector and that its resources reach rural producers and cooperatives mainly through partner financial agents.

“In the 2022/23 Crop Plan, R$ 16 billion has already been approved through partner institutions, among development agencies, automaker banks, credit cooperatives, cooperative banks, private banks and public banks,” he said, citing that around 70 thousand rural producers and cooperatives have been served since July 1, 2022, when the plan came into effect.

Even during the suspension of the protocol of operations in the PAGF, which occurred in the present Crop Plan, the BNDES recalled that it continued to provide credit to producers through other proprietary solutions, such as the BNDES Rural Credit Product.

“Since the beginning of the current crop year, in June 2022, until mid-January, around BRL 2.8 billion were approved under the product.”
In August of last year, then-Minister of Agriculture Marcos Montes even said that he expected the resumption of credit lines that were suspended by the BNDES “soon”.