• Categories
  • Archives

Bank of Brazil Offers Credit for Reforestation

The Banco do Brasil (Bank of Brazil – BB) will offer a credit line to expand forest plantation intended for industrial use in Brazil. The BB Forest program will include existing credit lines and new resources.

According to the BB’s vice-president of Agribusiness, Ricardo Conceição, the bank will lend US$ 84 million (R$ 225 million) over the next five years.

Producers, whether they be firms or families, will have a four to ten year grace period before repayment begins.

The bank will finance both the plantation of commercial forests and trees intended to form legal reserves, Conceição added.

Annual interest rates of 4% or 8.75% will be charged, depending upon the nature of the production unit.

The funds are already available at branches of the BB, according to Conceição, who announced the program yesterday, March 30, at an event sponsored by the Brazilian Association of Planted Forests to commemorate the 100th anniversary of silviculture in Brazil.

Translation: David Silberstein

Agência Brasil


  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


You May Also Like

Brazil Industry Will Spend US$ 5 Billion to Educate 16 Million

Brazil's National Confederation of Industries (CNI) announced that it is going to invest 10.45 ...

Brazil and Arabs Strengthen Economic Ties Through Fairs

The Arab Brazilian Chamber of Commerce is going to participate in at least 12 ...

Portuguese Minister Denies Brazil’s Adman Tried to Pass as Presidential Advisor

The ex-minister of Public Works of Portugal, Antonio Mexia, now denies that Brazilian adman ...

Best-seller Books, Plays and Movies

By Brazzil Magazine Conversa Privada (Private Talk)—Comedy. The idea is to tell the public ...

Honey Exports by Brazil Grow 70% in First Half of Year

Exports of honey by Brazil remain high. In June, the country sold the equivalent ...

Brazilians Want Budgets Accountable for Social Goals

Social participation in the control and supervision of government spending is the purpose of ...

A Decades-Long Skirmish Pitches Brazil’s Military Against Descendants of Slaves

The late Afro-Brazilian scholar Abdias do Nascimento set a unique flame to Brazil’s quilombos, ...

Pepsi Takes a Brazilian Team to the Sahara for Its Latest Commercial

A thirsty nomad wanders through the Sahara Desert when he sees a Pepsi vending ...

How Brazil Is Using Youtube to Circumvent Electoral Laws

In the Brazilian democracy, presidential as well as lower office candidates have their ideas ...