CMN raises financing ceiling for Pronaf cooperatives

Cooperatives of small farmers will be able to borrow up to R$ 30 million in financing from the National Program for Strengthening Family Agriculture (Pronaf), the National Monetary Council (CMN) decided this Thursday (20). The agency raised the financing ceiling of the Pronaf Industrialização da Agroindústria credit line for financing contracted until June 30.

The previous limit was R$ 25 million. The CMN also raised the hiring limit per active cooperative member, which went from R$60,000 to R$90,000. This special condition will also be valid until June 30th.

The measures apply only to single cooperatives made up mostly of family farmers, with at least 75% of family farmers in the membership.

According to the Ministry of Finance, the temporary increase in financing limits aims to encourage the development of family farming in the country. This line of credit benefits cooperatives that promote the industrialization of agricultural products produced by family farmers.