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03.25.08
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BNDES supports cooperatives of small producers in the State of Bahia with R$ 6 million directed to microcredit
· Project will benefit about 8.5 thousand members in 88 municipalities in the State of Bahia
· Generation/maintenance of 13.5 thousand jobs until 2012
BNDES approved a financial support in the amount of R$ 6 million to a microcredit program of eight credit cooperatives affiliated to Associação das Cooperativas de Apoio à Economia Familiar [Ascoob]. These cooperatives operate in the semiarid of the State of Bahia, one of the poorest regions of Brazil, which economic activity is essentially rural, with predominance in the exploration of sisal, extensive farming and familiar agriculture for subsistence.
The total volume of funds applied to microcredit during the project duration (five years) will be R$ 21.5 million, due to financing rotation. With that, the cooperatives have the target of supporting at least 25% (around 8.5 thousand) of their total members within the next five years, and it is estimated a generation and maintenance of 13.5 thousand jobs until 2012.
The project has a strong impact on income generation and regional development, mainly taking into consideration that the municipalities involved present a Human Development Index (HDI) and GDP per capita lower than the average of the State of Bahia and Brazil. The average HDI of municipalities included in the project is 0.627, below the index of 0.693 in the State of Bahia or 0.757 in Brazil. The GDP per capita of those municipalities is R$ 4,477.00, lower than R$ 6,587.00 in the State of Bahia and R$ 11,658.00 in Brazil.
Among the merits of the project supported by BNDES are the importance of a contribution to the strengthening of the familiar agriculture for subsistence in one of the poorest regions of Brazil and an expansion in the offer of productive microcredit at the semiarid in the State of Bahia. In addition, the project will allow the attraction of new members and diversification of the products offered.
The operation will also have an important impact on the financial results and businesses of cooperative in the region, because BNDES funds in the ambit of the Microcredit Program [PMC] have more favorable conditions in terms of costs and terms than the funds currently raised by them in the market. PMC credit conditions are financial charges of 2.5% per month and term up to 15 months with a 3-month grace period.
Microcredit performance of cooperatives in the region is recent, arising from the integration with activities linked to an interdependent economy. In the last three years, such cooperatives performed about 4 thousand productive microcredit operations, lending approximately R$ 5 million to about 3.2 thousand members, small rural producers.
List of Cooperatives supported:
- Cooperativa de Crédito Rural de inhambupe Ltda - Sicoob Credite
- Cooperativa de Crédito Rural do Vale do Itapicuru Ltda - Ascoob Itapicuru
- Cooperativa de Crédito Rural Baixa Grande - Sicoob Grande
- Cooperativa Valentense de Crédito Rural Ltda - Sicoob Coopere
- Cooperativa de Crédito Rural do Piemonte - Ascoob Credimonte
- Cooperativa de Crédito Rural de Araci Ltda - Sicoob Araci
- Cooperativa de Crédito Rural de Serrinha Ltda - Ascoob Serrinha
- Cooperativa de Crédito Rural Pintadas - Sicoob Sertão
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