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Brazil’s BNDES foresees US$4 billion in rural credit for 2021/22 harvest

RIO DE JANEIRO, BRAZIL - The president of the National Bank for Economic and Social Development (BNDES), Gustavo Montezzano, said on Monday, July 5, that the institution should finance R$20 (about US$4) billion in rural credit in the 2021/22 crop year.

He pointed out that BNDES has enough liquidity and capital to borrow its own resources and does not have to resort to government-subsidized compensation in case there is excess demand from the sector. Operations for the new season will be available from this Wednesday.

"We will have similar volumes to last year, approximately R$20 billion . . .

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