Happy Friday! Today, a move to improve Brazil’s grain storage bottleneck. A tunnel to improve traffic to Brazil’s main port. And yet another setback for Operation Car Wash.
â If you like our work and want to give us an extra boost, you can fill up our reporters’ coffee mugs. Supporters get exclusive perks! Find out more.
BNDES invests BRL 1 billion in grain storage
Brazil’s National Development Bank (BNDES) is helping to finance two major projects aimed at increasing the country’s grain storage capacity over the next few years.
Money, money, money. BNDES will finance BRL 800 million (USD 162.7 million) for the agricultural cooperative Copasul to build a new soybean storage and processing facility in the state of Mato Grosso do Sul, in the Center-West region.
- The bank is also investing BRL 175 million in a new credit rights investment fund (FIDC), in partnership with Opea Capital and AGI Brasil, a company that manufactures equipment for bulk storage. The goal is to raise up to BRL 250 million by 2026 to finance agricultural storage projects.
- Both initiatives will ultimately result in a combined investment of BRL 1.6 billion.
đ Why it matters. The storage bottleneck is the