May 28, 2009
Brazil government to give US$496 million for farm lending plan
Brazil's Minister of Agriculture on Wednesday (May 27) said that 108 billion Brazilian real (US$496 million) will be allocated to Brazil's farm lending plan for the 2009-10 crop season, local news service reported Estado.
Reinhold Stephanes said that final decisions regarding the plan would be taken this week, Estado reported.
The government will allocate BRL93 billion for commercial agriculture and BRL15 billion for small-scale family farms, Estado reported Stephanes as saying.
Stephanes was speaking to reporters after a meeting about the farm lending plan with Guido Mantega, Brazil's Minister of Finance.
Brazil's government invested BRL78 billion in the sector in 2008-09, Estado reported.
The Ministry of Agriculture was unavailable for further comments.
Brazil is the world's No. 1 producer of coffee, sugar and orange juice and the No. 2 producer of soy.
