Brazilian bank lends billions for ethanol
Brazil’s BNDES state development bank will lend 2.5 billion reais (€834 million) to ethanol producers to boost production.
The funding will be used to stockpile 3.3 billion litres of ethanol, the Agriculture Ministry says.
Producers will be required to commit some of their own funds to store ethanol, boosting total inventories under the programme to 5 billion litres, the ministry said.
The Centre-South Sugar and Ethanol Association, known as Unica, has announced that Brazil’s government may lend as much as 3 billion reais to finance the stockpiling of 4.5 billion litres.
The funding will be used to stockpile 3.3 billion litres of ethanol, the Agriculture Ministry says.
Producers will be required to commit some of their own funds to store ethanol, boosting total inventories under the programme to 5 billion litres, the ministry said.
The Centre-South Sugar and Ethanol Association, known as Unica, has announced that Brazil’s government may lend as much as 3 billion reais to finance the stockpiling of 4.5 billion litres.
Loading ...
