News International Sugar Journal

Brazil – BNDES approves credit of BRL3 billion to producers to store ethanol [Full subscriber]

The National Bank for Economic and Social Development (BNDES) approved on 4th June a credit line of BRL3 billion (US$586 million) to finance the storage of ethanol, to support drop in demand due to the coronavirus pandemic lockdown restrictions impacting travel. The BNDES program aims to support the sugar and alcohol sector via storage 6 billion litres of ethanol, approximately 20% of national production and representing BR¢50 of working capital per litre of ethanol. BNDES will make available BRL1.5 billion to companies, cooperatives and individual entrepreneurs with a minimum operating gross revenue of BRL300 million. Financing can vary between BRL10…

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