Banco Nacional de Desenvolvimento Economico e Social (BNDES) has launched new funding mechanisms to support initiatives in the environmental sector. From now on, BNDES Card fund environmental diagnostics and certification services for traceability systems, while BNDES will support the Forest reforestation, restoration and sustainable use of forests.
The development bank also announced the creation of Forest Clearing, which will finance the settlement of the liability of legal reserves on farms intended for agribusiness and the creation of BNDES Atlantic forest, which constitutes non-refundable financial support for projects of reforestation of native species this biome, and the opening of the FIP Forestry, an investment fund for stakes in companies or enterprises with a focus on forest assets.

The president of BNDES, Luciano Coutinho, said that these new lines are now available and said there was no budget ceiling for disbursements. He said compensation for the Forest, for example, was allocated $ 300 million by 2012, but, if necessary, more resources can be allocated.

In addition to these new arrangements, the development bank has already provided several lines and mechanisms for refrigerators and ranchers. The BNDES Card financing equipment used in implementing systems to track cattle, while the Innovation Line FUNTEC finance and technological innovations for the sector. Besides these, Line Environment supports projects for pollution control, environmental management systems and certifications; PMAE finances the modernization of state environmental agencies and land tenure; Propflora and supports the commercial planting and forest recovery.

Last year, the development bank has earmarked $ 6 billion to the sector of refrigeration and ranchers, including equity investments. To Coutinho, new forms of funding and requirements announced for the granting of credit to the sector will help reduce the environmental burden caused by expansion of cattle ranching.

Source: O Globo