CAPITAL MARKETS
Conservative governors try to woo farmers with market funds
The state of Paraná is selecting investment fund projects for agribusiness financing. Photo: Gilson Abreu/AEN
A growing number of Brazil’s leading farming states are experimenting with capital market instruments to channel money into agriculture, seeking alternatives to traditional subsidized credit lines that have failed to keep pace with the sector’s rapid expansion.
In August, the state of Goiás made BRL 314 million (USD 57.85 million) in ICMS1 tax credits available as collateral for investment funds. The move allows local companies to raise financing against those credits, which would otherwise be locked until 2032…
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