Brazilian government plan launch to increase the fishing and aquaculture production of the country. (Photo: MPA)
BNDES allocates almost USD 250 million to boost aquiculture
Monday, October 29, 2012, 05:00 (GMT + 9)
To assist in the development of the fish production chain, the National Bank of Economic and Social Development (BNDES) created BNDES Support Programme for Aquaculture Sector Development (BNDES Proaquicultura).
For this initiative, which will be valid until 31 December, 2017, the bank will allocate BRL 500 million (USD 246.6 million).
This programme was presented at the Planalto Palace, along with the Harvest Plan for Fisheries and Aquaculture, in which the Brazilian government will invest BRL 4,100 million (USD 2,000 million) until 2014 to double fish production and reach two million tonnes per year.
According to figures provided by the Ministry of Fisheries and Aquaculture (MPA) in the past decade aquaculture grew on average by 10.3 per cent annually while fishing rose 2.4 per cent.
The new programme will consist of two sub-programmes: Proaquicultura-Production and Proaquicultura-Giro.
The first sub-programme includes financing civil works, facilities, purchase of furniture, tools, machines and equipment. It also includes funding for training and technical and managerial training, hiring studies, consulting and technical advice, national software acquisition and rent and working capital associated with investment.
The minimum value for the support of direct and indirect non-automatic operations will be BRL 3 million (USD 1.4 million), with a 144-month financing term and a 36-month grace period.
With respect to the sub-programme Proaquicultura-Giro, the working capital of the aquaculture enterprises is related to the increase in production, employment and salaries.
The minimum funding is BRL 10 million (USD 4.9 million) in respect of direct, indirect mixed and non-automatic operations.
According to BNDES president, Luciano Coutinho, the decision of the bank is to "heavily get involved in financing the infrastructure of the logistics" of the country.
"We will have to fund a significant percentage of all the investment in ports and airports," he stressed.
- USD 2,000 million invested to double fish production
By Analia Murias