Crédito para Investimento da Agropecuária Brasileira e o Papel do BNDES

This report analyzes the role of the Brazilian National Development Economic and Social Bank (BNDES) in providing investment credit for the Brazilian agricultural sector, focusing on the financing of machinery and equipment.

• BNDES is a major provider of investment credit for the agricultural sector, with its disbursements to the rural sector increasing nearly fourfold in real terms between 1995 and 2020.
• In the 2020/21 agricultural year, investment credit totaled R$ 74 billion, accounting for 30% of all rural credit granted. BNDES served as the resource source for 31% of the total rural credit destined for investments over the last five agricultural years.
• BNDES credit is heavily concentrated in crop activities rather than livestock, with soy being the primary agricultural product financed for the purchase of machinery and equipment. In 2018, soy producers took approximately 61% of the total rural credit for equipment, up from around 30% in 2008.
• The most financed equipment types are combine harvesters (32%) and tractors (28%), based on 2018 data.
• Geographically, the Center-West region has become the largest recipient of loans for machinery and equipment, reaching a 36% share of total resources in 2018. This represents a 10 percentage point increase between 2005 and 2018, coinciding with the expansion of the agricultural frontier.
• BNDES rural credit is predominantly operated through an indirect modality (99% of the volume in 2020), where resources are passed to financial agents. In 2018, the primary intermediaries for machinery and equipment credit were manufacturer banks (55%) and private commercial banks (35%), which differs from general rural credit in Brazil, which is mostly operated by public banks like Banco do Brasil.
• The BNDES funding structure as of December 31, 2020, relied primarily on the Worker's Support Fund (FAT) at 43% and the National Treasury at 26%.

APA

Souza, P., Sant´Anna, A., Machado, L., Intropidi, B., Vogt, P., & Assunção, J. (2021). Crédito para Investimento da Agropecuária Brasileira e o Papel do BNDES. Climate Policy Initiative. https://www.climatepolicyinitiative.org/wp-content/uploads/2021/12/DQ-BNDES_PT.pdf

Chicago

Souza, Priscila, André Sant´Anna, Luciano Machado, Barbara Intropidi, Pedro Vogt, and Juliano Assunção. Crédito para Investimento da Agropecuária Brasileira e o Papel do BNDES. Climate Policy Initiative, 2021. https://www.climatepolicyinitiative.org/wp-content/uploads/2021/12/DQ-BNDES_PT.pdf.

Wikipedia

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BibTeX

@techreport{souza2021crdito, author = {Souza, Priscila and Sant´Anna, André and Machado, Luciano and Intropidi, Barbara and Vogt, Pedro and Assunção, Juliano}, title = {{Crédito para Investimento da Agropecuária Brasileira e o Papel do BNDES}}, institution = {Climate Policy Initiative}, year = {2021}, month = dec, url = {https://www.climatepolicyinitiative.org/wp-content/uploads/2021/12/DQ-BNDES_PT.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }