Banco do Brasil has concluded 3 million Pronaf contracts

15/11/2002 - 14h51

Brasília, November 18, 2002 (Agência Brasil - ABr) - Since the program began in 1995, Banco do Brasil has concluded 3 million contracts in its Program to Strengthen Family Farming (Pronaf). The amount of funds used totals R$7.2 billion (US$1.97 billion) which was spent on small family farms and for farmers settled as part of the land reform program.

The amount spent for the 2002/2003 harvest totals R$650 million (US$177.6 million), which should rise to R$1.8 billion (US$490 million) by the end of the harvest. That is 18% more than was spent on financing last year's harvest. (AB)