SME Times is powered by   
Search News
Just in:   • Banks to recycle inward currency notes only after 48 hours on corona threat  • China's Shenzhen city bans eating of cats, dogs  • British Airways expected to suspend 36,000 staff  • Wall Street tumbles amid deepening coronavirus fears  • COVID-19: LinkedIn offers free job postings for critical roles 
Last updated: 27 Sep, 2014  

Brazil.Border.Thmb.jpg Brazil unveils USD 57 bn agri loan programme

Brazil.9.jpg
   Top Stories
» Markets tank 1,200 pts on Corona crisis
» Indian IT sector set to face hardship
» Startups hit as investors get extra cautious
» Feb core sectors output up by 5.5 pc
» Developing nations to lose $800 bn in export revenue in 2020
IANS/EFE | 29 Jun, 2012
President Dilma Rousseff Thursday unveiled a 115-billion-reais (USD 57 billion) loan programme aimed at reinforcing agriculture's role as a lever of Brazilian economic growth.

Rousseff defined the plan for the 2012-13 season as "a new tool against the global crisis" that will underpin the government's efforts to create employment and mitigate the effects of economic turmoil abroad.

"This plan will show that Brazil is one of the few countries that can create new jobs amid the very serious sovereign debt crisis affecting the world," she said during the ceremony at the Planalto presidential palace, describing agriculture as a strategic sector.

Rousseff said the public and private loans, which represent a 7.5 percent increase over the 2011-12 season, will spur increased productivity while safeguarding protected ecosystems because "growth is not and cannot be incompatible with environmental preservation".

"I can proudly say that Brazil is a country that produces, expands its production, uses technology and does so with full respect for the environment," Rousseff said, adding that the new plan will be guided by the precept "living earth and respected nature".

Agriculture Minister Jorge Mendes Ribeiro said nearly 60 percent of the plan's funds will be allocated to finance programmes to improve distribution chains and market products.

Special attention will be paid to family farming, which currently accounts for nearly 70 percent of the country's food production.

The interest on the loans, meanwhile, will fall from 6.5 percent in the previous agricultural season to 5.5 percent in 2012-13.

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 02 Apr, 2020
  Daily Poll
Ease of doing business improved in last one year
 Yes
 No
 Can't say
  Commented Stories
» China's forex reserves reach USD 2.85 trillion(4)
» Package for SMEs, others on cards, indicate Sitharaman(1)
» Private banks, NBFCs to continue EMIs, if not informed(1)
» The big bang RBI stimulus(1)
» Appoint distributors, expand your business(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter