The Brazilian Development Bank (BNDES) has created a new program to encourage the production of sugarcane by financing the renovation of old sugarcane farms and the expansion of the cultivated area. The BNDES Prorenova has a budget of R$ 4 billion.

The BNDES disbursed R$ 104.2 billion between January and October this year. The infrastructure sector had the largest share in the outcome, accounting for 41% of the Bank’s total disbursements in the period.

The Board of Directors of the BNDES approved financing in four different projects for the construction of 26 wind farms, all in the state of Rio Grande do Norte, amounting to R$ 1.8 billion. The projects will have an installed capacity of 628.8 megawatts and will require total investments of R$ 2.6 billion.

On December 6, the BNDES and the Foreign Trade Bank of Latin America (Bladex) signed a contract to finance Brazilian exports of machinery and equipment to countries in Latin America and the Caribbean. Financing will be done through a new support modality: the BNDES Exim Automatic.