Proparco is making a credit line available to Banco Pine to finance Brazilian agro-industrial companies which produce and process agricultural products – and is thereby supporting the entire sector.
Banco Pine is a Brazilian bank specialized in financing medium-sized and large companies. It is particularly active in the agro-industrial segment. Some 30% of its portfolio is made up of companies in this sector, particularly for the production of sugar and ethanol and the production and processing of agricultural products.
Proparco’s credit line will be earmarked to finance agro-industrial companies. It will allow the bank to better meet the needs of these companies, by offering them financing with longer maturities than on the market. This operation strengthens a partnership initiated with Banco Pine in 2007.
This project will contribute to agricultural and agro-industrial development in Brazil: this sector employs 40% of the working population and accounts for a third of the country’s GDP. It will support the development of the agricultural supply chain and increase incomes for populations who are dependent on agriculture and agro-industry.