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ABPA and Bank of Brazil meets to renegotiates debt poultry and pig farmers

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Bank of Brazil renegotiate cost of debt and poultry investments and pig farmers from across the country in response to a request made by the Brazilian Animal Protein Association (ABPA),  The proposal of the financial institution was presented yesterday, Jul. 5th at a meeting between the executive director of ABPA, Ricardo Santin, vice President of Agribusiness Bank of Brazil, Tarcisio Hübner, director of Agribusiness Bank, Marcus Tullius Moraes da Costa, as well as technical staff, Brasilia-DF.

Bank of Brazil will provide “simplified measures for extension of rural debts” with installments due in 2017, and maturing in 2018. The proposal relates to investment and costing extended in previous years, with the rescheduling of the installments for 01 years after the end of the contract. In the specific case of funding, the conditions include payment of 30% of the debt in the act and the settlement of the remaining balance will be in two installments, the first one being in 2019.

The financial institution also presented a proposal for the retention of sows with lines of credit with a term of up to two years for payment, an interest rate of 6% per year to producers framed in Pronamp, and 7% per annum for the remaining pig farmers .

“A full understanding of the Brazil Bank board to industry situation comes at a key moment in the production chain seeking to restructure after the various impacts suffered from export embargoes to the heavy losses caused to poultry and pig farmers by blockages in roads, “said Francisco Turra, president of ABPA.

The poultry and pig industry include more than 100 thousand families of integrated poultry and pork producers. Overall, the sector generates 4.1 million direct and indirect jobs, especially in small municipalities of Brazil.