ANNOUNCEMENT 02 Jun 2015
The Government of Brazil increased the budget allocated to the Coffee Economy Defense Fund credit lines known as "Funcafé".
NUMBER OF INTERVENTIONS
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
Government of Brazil. Governo do Brasil. "Conselho define proposta de distribuição do Funcafé" Available at: http://www.brasil.gov.br/economia-e-emprego/2014/02/conselho-define-proposta-de-distribuicao-do-funcafe
On 2 June 2015, the National Monetary Council (CMN by its acronym in Portuguese) approved BRL 4,136 million (USD 1,317 million) for credit lines enclosed in the Fund for the Defense of the Coffee Economy ("Funcafé") for 2015. The new budget represents an increase when compared to 2014 when the total budget was BRL 3,825 million (USD 1,218 million).
The credit lines were distributed as it follows:
The offered interest rates ranged between 8.75% and 10.5%.
These amounts apply for the 2015 harvest.