Brazilian Slaughterhouse Rescue?

Meanwhile Brazil’s largest public-sector bank, Banco do Brasil, may increase credit available to Brazil’s agricultural sector by as much as 25% for the 2009/10 crop season from 2008-09. Banco do Brasil’s current estimate is that 30.8 billion Brazilian real ($13.7 million) of credit will be issued to farmers for the 2008-09 crop season. This credit for 2009-10 should be finalized in May, he said.

Banco do Brasil’s increase in credit would be in line with the government’s expected increase of 25% to R$100 billion in agricultural credit in 2009-10.

According to the president of State development bank BNDES, Luciano Coutinho, the bank is also studying measures that could support the slaughterhouse sector, which might be announced later this month.

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