In 2018, Bunge partnered with The Nature Conservancy and Santander Bank to develop a first-of-its-kind financing mechanism for soy farmers in Brazil’s Cerrado region. The program is designed to promote agricultural production without further deforestation or conversion of native vegetation, by providing long-term loans to farmers willing to commit to this approach. Most of the loans currently available to soy farmers are for less than a year to finance their annual crop costs. This new mechanism will offer loans of up to 10 years, recognizing that investments in land acquisition and preparation have a long-term payback. In 2018, approximately USD$50 million in capital was piloted.
View the news release here.