Brazil launches $51.13 billion package of soft loans for agricultureStaff Writer | June 11, 2018
Brazil announced that it has earmarked up to 194.3 billion Reais or $51.13bn in loans to promote large and medium-sized agricultural producers.
LatAm Agriculture Minister Blairo Maggi
The loans and credit lines will be accessible to producers starting July 1 and through June 30, 2019, Maggi said, adding that most of the funding - 191.1 billion Reais ( $50.29bn), will go to finance rural loans.
According to a statement from the ministry, other part of the money will be earmarked for expenses, investment, commercialization and subsidizing rural insurance.
The interest rate on loans will be 6% for medium-size enterprise and 7% for the rest, while rates on investment will be between 5.25/7.5% annually. ■