Geneseas Aquacultura Ltda will receive a 15.8 million real (US$ 7 million) loan to finance two fish farms and one processing house. Delicious Fish Agroindústria e Comércio de Pescados Ltda receives a fund of 18.5 million real (US$ 8 milion) to extend its pisciculture installations.
BNDES founded the Proaquicultura program in 2012 with the goal of improving the production chains of the national fisheries sector. The program has a budget of 500 million Real until 31 December 2017. BNDES has the power to back 80% of the investments carried out by domestic companies. In case of machinery and other equipment of national production, the BNDES has the right to support the investments by 100%.
The Brazilian Development Bank provides credits with below-market interest rates to legal persons (private or public) with headquarters and administrations in Brazil. In the case of companies with headquarters abroad, majority shareholders (private or public) need to have residence in Brazil. This also applies to the Proaquicultura program (see Circular No. 04/2013-BNDES).