Brazil’s CMN Announces R$6 Billion in Credit for Small Agricultural Producers

The resources will be used in the agricultural and livestock financing operations of the Pronaf and Pronamp programs.

By Lise Alves, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – Banks in Brazil will have to allocate approximately R$6 billion from rural deposits and savings to small farmers, announced Brazil’s National Monetary Council (CMN) on Thursday.

"The change will guarantee resources until the end of the harvest," said the head of the Department of Regulation, Supervision and Control of Operations of the BC Rural Credit, Cláudio Filgueiras.

The resources will be used in the agricultural and livestock financing operations of the National Program for Strengthening Family Agriculture (Pronaf) and the National Program to Support the Medium Rural . . .

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