20-05-2014 01:15 AM | Brazil

Brazil announces $70.5 bn credit line for farm sector

President Dilma Rousseff announced Monday that the government will make available to Brazil's farmers and ranchers a 156.1 billion reais ($70.5 billion) credit line, a hike of 14.7 percent over the previous season.

The 2014-2105 Sugarcane Harvest Plan, announced Monday during an official ceremony at the presidential palace in Brasilia, plans to make $50.6 billion available for financing operating costs and $19.9 billion for investment programs.
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