ANNOUNCEMENT 31 Mar 2016
The Brazilian government increased the budget for the Coffee Economy Defense Fund credit lines known as "Funcafé".
NUMBER OF INTERVENTIONS
Brazilian Central Bank. Banco Central do Brasil. Resolçao 4472 de 31 de Março de 2016. Available at: http://www.bcb.gov.br/pre/normativos/busca/downloadNormativo.asp?arquivo=/Lists/Normativos/Attachments/50175/Res_4472_v1_O.pdf
Brazilian Central Bank. Banco Central do Brasil. Resolçao 4414 de 2 de Junho de 2015. Available at: http://www.bcb.gov.br/pre/normativos/busca/downloadNormativo.asp?arquivo=/Lists/Normativos/Attachments/48539/Res_4414_v1_O.pdf
On 31 March 2016, the National Monetary Council (CMN by its acronym in Portuguese) approved BRL 4,632 million (USD 1.3 billion) for credit lines enclosed in the Fund for the Defense of the Coffee Economy ("Funcafé") for 2016. The new budget represents an increase when compared to 2015 when the total budget was BRL 4,136 million (USD 1.16 billion).
The credit lines were distributed as it follows:
These amounts apply for the 2016 harvest.