Biofuel Producers Receive R$ 1 Billion Credit Line Established by BNDES

Written by Roberta Souza

Published on 09/02/2021 at 14:25

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The Objective of the BNDES Credit Line Is to Stimulate the Reduction of Emissions in the Sector

The National Bank for Economic and Social Development – BNDES, approved a credit plan of 1 billion reais for biofuel producers, aiming to stimulate the reduction of emissions in the sector. The program called BNDES RenovaBio allows biofuel producers to reduce interest rates if they meet the CO2 reduction targets set by the bank.

Renovabio Program:

Renovabio is a federal government program launched by the Ministry of Mines and Energy in December 2016, aimed at expanding the production of biofuels in Brazil, based on predictability, environmental, economic, and social sustainability, and compatible with market growth.

Loan and Interest:

Considering that the upper limit for each economic group is 200 million reais, the maximum value of each loan is 100 million reais per production unit. The total repayment period will be 96 months, including up to 24 months of grace period.

BNDES explained that if the client proves that they have met the planned CO2 emission reduction target after the grace period, interest rates may be reduced by up to 0.4%.

Biofuel Producers Receive R$ 1 Billion Credit Line Established by BNDES

The Objective of the BNDES Credit Line Is to Stimulate the Reduction of Emissions in the Sector

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Biofuel Producers Receive R$ 1 Billion Credit Line Established by BNDES

The Objective of the BNDES Credit Line Is to Stimulate the Reduction of Emissions in the Sector

See Also Other News of the Day:

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Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

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Engineers had to pour concrete mixed with tons of ice throughout entire nights in the Dubai desert to erect the Burj Khalifa; any carelessness could clog the pipes half a mile high.

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