Banco do Brasil to allocate $40.5 billion to farm credit in 2026/27 crop season

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Brazilian state-run lender Banco do Brasil BMFBOVESPA:BBAS11 said on Friday it will allocate 210 billion reais ($40.5 billion) to finance the 2026/27 crop year, reinforcing its role as the country's main agricultural lender.Commercial agriculture will get 170 billion reais for production costs, investment, commercialization and industrialization, the lender said in a statement.Small and medium-sized producers will receive about 40 billion reais of the total.In the previous crop year, Banco do Brasil disbursed 209 billion reais across about 500,000 operations.The lender is typically a pillar of the country's Safra Plan, a key government program providing farmers with subsidized loans.The government announced the 2026/27 edition of the plan earlier this week, with a total amount of about 610 billion reais in financing.Banco do Brasil's agribusiness portfolio stood at 418.4 billion reais at the end of the first quarter, up 3% year on year. is a top global supplier of grains, coffee, meat, cotton and sugar.($1 = 5.1851 reais)

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