March 4, 2020 / 6:51 PM / a month ago

Brazil Congress approves law expanding credit for farmers

BRASILIA (Reuters) - Brazil’s Senate on Wednesday approved a bill to expand financing for farmers in the country, and it will now pass to President Jair Bolsonaro for final approval.

The bill includes the creation of “fraternal” funds backed by farmers themselves to finance activities in the sector, help provide credit guarantees and to collectively renegotiate and pay down debt.

Reporting by Maria Carolina Marcello; Writing by Jake Spring

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