Brazil's BNDES cuts interest rate in credit line for sugarcane growers

07/29/2013 | Bloomberg

In a bid to encourage the renewal of aging sugarcane fields, Brazil's development bank BNDES has cut the interest rate of a loan facility for cane producers to 5.5%. Big and medium-sized enterprises used to be charged at least 6.3% interest when borrowing from the Prorenova credit line, BNDES said.

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