Brazil sets aside $70.6 billion for farmers
President Dilma Rousseff and Agriculture Minister Neri Geller launch the Agriculture Plan 2014/15
As of July this year, Brazil's federal government will place at the disposal of farmers and cattlemen $70.6 billion in order to cover expenses and trade ($50.66 billion), as well as investment programs ($19.9 billion) within the 2014/2015 Agriculture Plan.
The amount shows a 14.7 percent increase against the $61.51 billion from the previous plan, announced on Monday (May 19) the Ministry of Agriculture.
The new plan offers strategic support to medium-scale farmers, technological innovation, and the commercial forests sector, translated into an interest rate of 4 to 6 percent per year, which is lower than the rates usually set in the financial market.
Translated by Fabrício Ferreira
Fonte: Brazil sets aside $70.6 billion for farmers
