Agronegócio ficará com pouco menos de 17% do novo crédito anunciado pelos bancos públicos contra crise do coronavírus

Agribusiness Will Get Just Under 17% Of The New Credit Announced By Public Banks To Combat The Coronavirus Crisis

Written by Roberta Souza

Published on 23/03/2020 at 09:43

agronegócio, coronavírus, exportações

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Only 17% of Public Bank Aid Will Be Allocated to Agribusiness as a Measure Against the Coronavirus Crisis

Agribusiness, responsible for years for the good results in GDP, positive trade balance, and turnover of the Brazilian economy, will receive just under 17% of the new credit announced by public banks as a relief measure against the coronavirus pandemic.

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The total aid, in billions, will be distributed among the following sectors:

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Companies – R$ 88 billion;

Purchase of small and medium bank portfolios – R$ 30 billion;

Individuals – R$ 24 billion;

Hospitals, states, and municipalities – R$ 6 billion;

Agribusiness – R$ 30 billion;

The negotiations to provide the capital should focus on expanding credit for working capital, deferring debt installments, and extending debt maturities. Of the R$ 30 billion released for agribusiness, R$ 25 billion come from Banco do Brasil and R$ 5 billion from Caixa Econômica Federal.

The difference in the amount granted between the two banks will not lead to a market dispute. Caixa does not anticipate future expansion of these credit lines, and the focus of the granted amount will be on micro and small businesses.

Agribusiness has access to credit lines with different particularities compared to other sectors, such as conditions and deadlines (linked to harvests). However, there is no impediment to obtaining capital under normal conditions.

According to CNA (National Confederation of Agriculture and Livestock of Brazil), agribusiness is responsible for 21% of Brazil’s GDP and for keeping the Brazilian trade balance in surplus. Annually, it records a positive balance that offsets the deficits of all other sectors.

In 2019, R$ 97 billion was the balance of Brazilian exports from the sector, products mainly destined for China, the European Union, and the United States (heavily affected by the Coronavirus).

Agribusiness Will Get Just Under 17% Of The New Credit Announced By Public Banks To Combat The Coronavirus Crisis

Only 17% of Public Bank Aid Will Be Allocated to Agribusiness as a Measure Against the Coronavirus Crisis

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