Agribusiness to have US$ 4.6 billion assistance package
O Estado de S. Paulo 04/16/2009
The Federal Government will launch an aid package to the agribusiness today. Through Banco do Brasil and the National Development Bank (BNDES), a credit line of R$ 10 billion (US$ 4.6 billion) for the sector to improve its working capital should be created. There will be special interest rates that will be much lower than those currently offered by the market.
The sector that felt the impact of the crisis the most was cattle raising. Slaughterhouses have closed one after the other and others are in financial difficulties. The perspectives are of new layoffs in the meat industry. The situation of the slaughterhouses is very bad today. Many need more than working capital. Since Perdigão has announced it will not purchase those that are going bankrupt or that are in great difficulty, the solution for the meat sector has become more difficult. One of the solutions considered for the slaughterhouses may come from the way they are levied.