Sugar, ethanol firms set for BNDES cash

Sugar, ethanol firms set for BNDES cash

Loans

Brazilian government agencies BNDES and Finep have allocated BRL1.4bn ($585m) for grants, loans and equity stakes in sugarcane and ethanol businesses over the next four years. The funding comes as firms in the sugar sector face a tough funding environment and a falling price for their product — although a person familiar with the program said it was not connected to market conditions. Finep, which has a mandate to foster science and tech innovation, and the country’s development bank BNDES will

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