The Constitutional Fund for Financing of the North (FNO) contemplated 16,400 projects by entrepreneurs and rural producers in the region. While making R$ 7.6 billion available for credit operations in the whole of 2019.
The results were released this Thursday (12) by the Bank of the Amazon, responsible for the operationalization 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 were the target of 60% of 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, in the North of the country, R$ 9.9 billion is available for financing through the FNO. According to the Fund's financial schedule, 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. In turn, entrepreneurs in Amazonas will have R$ 1.64 billion. Acre, Amapá and Roraima will have R$ 491.64 million each.
Among the main lines of credit is the Financing Program in Support of Infrastructure (FNO-Infra), aimed at promoting projects of this type in the region. Interested parties will be able to access up to R$ 2.97 billion.
Priority for the small investor
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 Northeast (FNE).
Despite offering attractive conditions also to large investors, the resources are primarily aimed at small and medium-sized activities.
Therefore, for the rural sector, even, interest rates are the lowest on the market and include family farmers through the National Program for Strengthening Family Agriculture (Pronaf).
To have access to financing, interested parties should look for public banks that operate the credit: Banco do Brasil serves the Midwest. However, Banco do Nordeste is responsible in the homonymous region, while Banco da Amazônia operates in the North region.
