The Ministry of Agriculture and the Ministry of Economy signed on Monday (21) a cooperation agreement with the Inter-American Development Bank (IDB) for the establishment of a credit line of US$ 1.2 billion to attend, as a priority, projects of sustainable development of agricultural production chains.
In a note, Agriculture informs that the new credit line can be used by federal and state government entities, as well as financial institutions that act as intermediaries with the private sector, following the rules established by the External Financing Commission (Cofiex) .
The Secretary of International Economic Affairs (Sain) of the ME will be responsible for monitoring the Program between the agencies of the federal, state, Federal District and IDB governments.
The lines of credit will be available for ten years. “The projects must be aligned with the policies to support the agricultural sector and rural development, defined as priorities by the Map’s Strategic Plan 2020-2031.”
“Agricultural defense and innovation will be covered – including research, technical assistance and rural extension –, land and environmental regularization, in addition to environmental sustainability and resilience to climate change.”
The Agricultural Development Support Program in the Northeast (AgroNordeste) will be the first beneficiary, with US$ 230 million, for the development of economic opportunities in agricultural value chains, in land and environmental regularization.
The funds will also be used in AgroNordeste projects to expand the area free of fruit flies, in Rio Grande do Norte and Ceará, and in the consolidation of the Phytosanitary Protection Area for fruit flies, in the Vale do San Francisco.
Source: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
