Credit Line for Brazilian Agro-industry

With the purpose of financing the expansion and improvement of its soybean industrial plants in Brazil, CAF, Development Bank of Latin America, approved a long-term loan to Granol Industria, Comercio e Exportacao S.A, for an amount of USD 75 million. 

Victor Rico, CAF's Director Representative in Brazil, highlighted that the Institution "supports the Latin American productive sector by promoting the expansion of their range of exports, seeking economic transformation that will improve its productivity, add value to the national comparative advantages, and increase investments in all types of capital". 

Victor Rico stated that, "during the last five years, CAF approved operations in Brazil for USD 8.8 billion. Specifically in 2013, operations were approved for a total of USD 2.2 billion, of which USD 398 million were allocated to the corporate sector". 

Alejandro Gumucio, CAF's Director of Productive and Financial Sectors for the Southern region indicated that for the institution to "promote business development is one of the tools to contribute to the improvement of productivity in Latin America, in the framework of the comprehensive agenda for sustainable development promoted by the Institution". 

The investment plan of Granol Industria includes an increase in the mill's capacity, which is concentrated in the Porto Nacional plant located in Tocantins; the optimization of the productive process; and the increase of production by 600 thousand tons per year. 

The new plant will get the beans in the local market, and will produce flour and oil, the latter to be transformed into biodiesel. 

Founded in 1966, Granol has six productive units, three located in San Pablo, one in Rio Grande do Sul, one in Goias, and one in Tocantins. It works with over 8,000 producers, to which it supplies seeds and supports the development of crops, and has 44 storage centers distributed in the main bean-producing states.