June 4, 2020 / 9:11 PM / a month ago

Brazil's BNDES approves credit program to support ethanol sector

SAO PAULO, June 4 (Reuters) - Brazil’s state development bank BNDES said on Thursday it has approved a credit program to help support the country’s ethanol sector during a fall in demand due to the coronavirus crisis.

The credit, linked to ethanol stocks, could reach 3 billion reais ($586 million) with the participation of commercial banks, BNDES said in a statement.

($1 = 5.118 reais)

Reporting by Roberto Samora, writing by Stephen Eisenhammer, editing by Chris Reese

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