This week, Banco do Brasil (BB) made available the Operations Guarantee Fund (FGO) to cover up to 100% of the contracting of lines Pronaf More Foods and Pronamp Investment of producers who suffered material losses as a result of the floods of May 2024.
The link, unprecedented until then, may be used by producers located in municipalities of Rio Grande do Sul with a state of calamity and emergency recognized by the Federal Executive Branch, based on provisional measure 1,216 and law 14,981 and related ordinances.
The launch of the fund joins other BB initiatives to promote the recovery of Rio Grande do Sul, such as assistance to impacted people, financial support to the general population, businesses and rural producers, through debt extension and obtaining loans .
Banco do Brasil also highlights the granting of R$ 1.1 billion in emergency credit with a subsidy from the federal government, which covers more than 9 thousand family farmers and medium-sized producers, reinforcing a historic partnership with the State. BB reports that, within the framework of the execution of the Safra Plan, it has already disbursed more than R$ 11 billion in credits (including agricultural value chain lines and bonds) to producers in Rio Grande do Sul.
Contribution to the guarantee fund
According to the institution, the novelty regarding the linking of the FGO in the financing contracts for this public was possible thanks to the federal government’s contribution of R$ 600 million to the guarantee fund. This would have facilitated the creation of guarantees and expanded access to credit for family and medium-sized producers who have faced difficulties in offering guarantees for their operations.
“Banco do Brasil, once again, reinforcing its commitment to strengthening agriculture in RS, took the lead in providing this innovative rural credit solution backed by the guarantee fund, having already contracted the first operations in this modality, generating great receptivity and satisfaction. for the clients,” says the bank’s vice president of agribusiness and family agriculture, Luiz Gustavo Braz Lage.
According to the executive, the FGO promotes credit and BB activities in the field of government support actions, meeting the demands of rural producers to continue with the activity.
For more information on credit conditions and the use of the FGO, rural producers can contact the Banco do Brasil branches in Rio Grande do Sul.
