President Lula (PT) signed the provisional measure he releases with banks.
“It’s not forgiveness, it is responsible renegotiation. Producers will have up to nine years to pay with a year of grace to reorganize and continue to plant. We also create stimuli for banks to renegotiate debts with their own resources. With this measure, the producer recovers credit and again plants safely,” Lula said in a statement.
The measure applies to small, medium and large producers with two crop losses in the last five years in municipalities that have decreed calamity twice during this period.
The idea is that the money will serve as a source of funds to new financing, which would be used to pay off the former producers’ debts – many of which they are inadroplant
The theme was discussed the day before Lula’s meeting with Ministers Rui Costa (Civil House), Fernando Haddad (Farm), Carlos Fávaro () and Paulo Teixeira (agrarian development), as well as the Secretary of Economic Policy, Guilherme Mello, and the president of, Tarciana Medeiros.
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