Caixa Econômica strengthen the early funding resources for summer harvest in Brazil

February 24, 2021, 10:44:01 AM

Caixa Econômica strengthen the early funding resources for summer harvest in Brazil

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Sao Paulo: To finance the expenses of livestock activities and the main crops of the country, such as soybeans, corn, cotton, beans and coffee, Caixa Econômica Federal announced, this Monday (22), the expansion to R $ 12 billion of the anticipated costs for the summer harvest 2021/2022. These funds will be made available by the bank until June this year.

In practice, the money is used to fund crops and agribusiness before planting begins. By anticipating the resources for the next harvest, the producer can negotiate, even in the first half of this year, the acquisition of inputs for planting, so that it can be programmed and reduce costs.

Rural credit operations include lines such as the National Program for Strengthening Family Farming (Pronaf) and the National Program for Supporting Medium Rural Producers (Pronampe). The anticipation of cost to finance the 2021/2022 crop was launched by Caixa in December last year.

Of the R $ 12 billion in anticipated funding, Caixa has already lent R $ 8 billion to the sector. “And our expectation is to have the R $ 12 billion, 100% loaned, by the end of March, beginning of April”, added Caixa's president, Pedro Guimarães.



According to Pedro Guimarães, since the beginning of the government of President Jair Bolsonaro, Caixa has increased the loan portfolio in the agribusiness sector by 4 times. "And we will reach almost R $ 40 billion at the end of 2022, which is something more than 10 times the number of Caixa's portfolio in the agricultural segment at the beginning of the management."

New agencies
The opening of 21 bank branches focused on agribusiness operations was also announced. There are 10 new units in the Midwest region, three in the Northeast, five in the Southeast and three in the South of the country. The municipalities that will receive units specialized in agribusiness were defined considering the bank's strategy for the sector and the potential for the market in the regions.

And, starting this year, Caixa will also provide two agro trailers. Until July, vehicles will travel each week to a different place.

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