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Brazilian govt launches plan to finance family farming

06-18-2010 17:48 BJT

BRASILIA, June 17 (Xinhua) -- Brazilian President Luiz Inacio Lula da Silva launched on Thursday a program to provide 8.9 billion U.S. dollars as finance resources for family farming.

The plan, known as the Family Farming Harvest Plan 2010/2011, reduces interest rates on crop costing from 5.5 to 4.5 percent annually, and for investment from 5 to 4 percent per year in operations to family farming, the president said in a speech.

He also said for the first time small farmers will be allowed to make climate insurance in their investment, paying additionally 2 percent of the value of the loan fees.

Lula stressed the need to support the growth of family farming and the preservation of Brazilian forests. He said it is necessary to discuss ways to remunerate families living in places where forests should be preserved, so that they will have income without affecting the environment.

Moreover, the president announced an increase from 22,000 to 44,000 dollars in funding limit that may be granted by the National Institute of Colonization and Agrarian Reform (INCRA) for the purchase of land.

Editor:Du Xiaodan |Source: Xinhua

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