The National Bank of Economic and Social Development (BNDES), Brazil's development bank, has launched a support program to strengthen aquaculture in the country.
For the new program, which is valid until 31 December, 2017, the bank will allocate BRL500m ($246.6m).
The program will feature two sub-programs - Proaquicultura-Production and Proaquicultura-Giro, reported Fis.com.
The Proaquicultura-Production will include the financing civil works, facilities, purchase of furniture, tools, machines and equipment along with the funding for training, technical and managerial training, hiring studies, consulting and technical advice, national software acquisition and rent and working capital associated with investment.
The Proaquicultura-Giro will seek to increase production, employment and salaries.
BNDES is a federal public company associated with the Ministry of Development, Industry and Foreign Trade. Its goal is to provide long-term financing for endeavors that contribute to the country's development.
