ANNOUNCED AS TEMPORARYYes
On June 7, 2017, the government of Brazil launched the 2017/2018 Agricultural and Livestock Plan of Brazil. Included in the program was an increase in the budget allocated to the PRONAMP credit lines. The new budget was set at USD 6.6 billion (BRL 21.7 billion) representing a 12% increase when compared to the budget provided in the 2016/2017 Agricultural and Livestock Plan. In addition, the interest rate has been decreased from 8.5% to 7.5%.
The credit lines offered through PRONAMP are divided into two categories: credits to finance costs and credits to finance investments. In this sense, USD 5.5 billion (BRL 18 billion) was allocated to costs and USD 1.13 (BRL 3.7 billion) was allocated to investments.
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