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Free AccessLula Plans Credit To Boost Agriculture, Reduce Deforestation
- Lula Plans Credit To Boost Agriculture, Reduce Deforestation: Reuters
- Advisors to Brazilian presidential front-runner Luiz Inacio Lula da Silva are proposing subsidized "green" farm loans to spur planting of soybeans and corn on open pasture and reduce deforestation of the Amazon rainforest.
- The proposal, revealed to Reuters by a senior Lula advisor, is one of the clearest examples yet of how the former president has tried to court allies in the powerhouse agribusiness sector while promising more environmentally friendly policies.
- "The ecological transition is a central axis for all our policies," said Aloizio Mercadante, who is coordinating the Workers Party (PT) platform. "We can open differentiated lines of credit to encourage migration to agriculture that sequesters carbon."
- Under the proposed green credit program, Brazilian farmers could apply for cheaper, government-subsidized loans if they agree to meet targets for sustainable agricultural practices, Mercadante said. [RTRS]
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.