Brazil programs / Brazil project 512-0247 · 1966–1971 · agriculture
12/21/71 LOAN COMPLETION REPORT ON 1964-1967 USAID FERTILIZER IMPORT LOAN NUMBER I TO BRAZIL. LOAN SOUGHT TO INCREASE FERTILIZER USE IN BRAZIL BY PROVIDING FOREIGN EXCHANGE FOR FERTILIZER IMPORTATION AT ATTRACTIVE TERMS AND OFFERING FERTILIZER TO FARMERS AT CHEAP CREDIT TERMS. LOAN ALSO PROVIDED A MEANS TO INCREASE US FERTILIZER EXPORTS. IMPORTERS RECIEVED FORIEGN EXCHANGE ON 180-DAY TERMS FOR FERTILIZER IMPORTATION. FARMERS BENEFITTED FROM INTEREST-FREE CREDIT IN THE PURCHASE OF FERTILIZER THAT DERIVED FROM THE CRUZEIRO COUNTERPART GENERATED BY THE IMPORTS, WITH ALL INTEREST COSTS AND BANKING CHARGES BEING ABSORBED BY THE BRAZILIAN GOVT. A WAIVER OF THE 50-50 SHIPPING REQUIREMENT WAS ARRANGED DUE TO THE HIGH RATES CHARGED ON FERTILIZER CARGO BY US CARRIERS. 96.7% OF THE $15 MILLION LOAN WAS UTILIZED. INTEREST PAYMENTS HAVE BEEN MADE ON SCHEDULE. SINCE AUTHORIZATION OF THE LOAN IN 1964,FERTILIZER USE HAS INCREASED AT AN ANNUAL RATE IN EXCESS OF 25%. THE CREDIT SYSTEM DERIVED FROM CRUZEIRO COUNTERPART FUNDS HAS WORKED SUCCESSFULLY,PROVIDING THE BASIS FOR FUNDAG,AN INSTITUTIONLIZED FERTILIZER CREDIT FUND INAUGURATED IN 1969. ALL USAID MONITORING REQUIREMENTS HAVE BEEN MET; LOAN COMPL
Source: DEC abstract, PD-AAA-280-D1 (1971). The source's own text.
Operated in: Brazil.
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Operated in Brazil, 1966 to 1971 2 sources
Scope: country: Brazil. The award code belongs to this country's mission. High confidence.
How sure we are: 0.9.
| Name | Years | Basis | Evidence |
|---|---|---|---|
| 1966 to 1971 |
| Stated in a document |
| 2 sources |
| Name | Years | Basis | Evidence |
|---|---|---|---|
| Brazil | 1966 to 1971 | Stated in a document | 2 sources |
Sector profile (computed): Agriculture: crop production, inputs, pests, irrigation 56%; Agriculture: research, extension, training, technology 11%; Agriculture: policy, land tenure and land reform 6%
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Program key prj:5120247