The Constitutional Fund for Financing the North (FNO) supported 16,400 projects by entrepreneurs and rural producers in the region, while providing R$7.6 billion for credit operations throughout 2019.
The results were released this Thursday (12) by Bank of the Amazon, responsible for the operation of the FNO.
The volume of contracts in the last year – R$ 7.6 billion – represented an increase of 66,40% in relation to the previous year, when R$ 4.61 billion were applied.
Entrepreneurs and producers
Small producers received R$601,000,000 of the credit granted in 2019. Regional agribusiness received R$4.5 billion, while the infrastructure sector accounted for R$1.5 billion in contracts.
For this year, R$$ 9.9 billion is available in the North of the country for financing through the FNO. According to the Fund's financial program, Pará will have access to R$$ 2.92 billion in 2020.
Tocantins will receive R$2.12 billion, and Rondônia will receive R$2.04 billion. Meanwhile, entrepreneurs in Amazonas will receive R$1.64 billion. Acre, Amapá, and Roraima will each receive R$491.64 million.
Among the main credit lines is the Infrastructure Support Financing Program (FNO-Infra), designed to foster such projects in the region. Interested parties will be able to access up to R$2.97 billion.
Priority for small investors
The FNO is one of three constitutional funds created to implement regional development policy and reduce inequalities between different areas of the country – the others are the Central-West (FCO) and the Northeast (FNE).
Despite offering attractive conditions to large investors as well, the resources are primarily aimed at small and medium-sized activities.
Therefore, for the rural sector, interest rates are the lowest on the market and benefit family farmers through the National Program for Strengthening Family Farming (Pronaf).
To access financing, interested parties should contact public banks that provide credit: Banco do Brasil serves the Central-West region. However, Banco do Nordeste is responsible for the Northeast region, while Banco da Amazônia operates in the North region.