Home Agriculture Banks will adopt georeferencing system for rural credit operations until August

Banks will adopt georeferencing system for rural credit operations until August

From August, banks will adopt a unique system in Brazil for rural credit operations. Financial institutions will follow the development of cultivations to know when they need to pay for insurance in case of loss of production. For those who want to invest in agribusiness, the system will give greater certainty of return on investments.

With this technology, it will be possible to undertake financial operations of the plantations far from cultivations, just by accessing the satellite images through the system. Since monitoring is expensive and resource is not yet widely used, the Brazilian Federation of Banks (FEBRABAN) is developing a technology to become available to financial institutions.

– The client, upon arriving at the bank, will provide the coordinates of the area on which he intend to plant. A report with all the features and information of the area for insurance, credit and environmental risks information will be issued. This is a novelty, a paradigm break, and it is what will guide agricultural policies in the coming years – highlights the FEBRABAN director, Ademiro Vian.

– It does not evaluate only the conditions of production and the development of productive activity, but also environmental issues. Verifying if all commitments made by the rural productive sector are being met in the face of the new law in force since May, for which the financial system will have the responsibility to develop this socio-environmental policy – said the president of IBDAgro, Flávio Siqueira Palagi.

Five banks have joined the new system, which is still in the testing phase. The expectation is that 122 institutions linked to FEBRABAN use the tool and 100,000 credit and insurance operations are conducted with the use of this technology until the end of the year.

– I”ll have access to the production of that cultivation, its earlier and current weather problems, if it will be planted, if it is being cared for; and I”ll be able to monitor the cultivation and ensure greater tranquility for the investor – explains the Ecoagro’s, Executive Partner Moacir Ferreira Teixeira.

The FEBRABAN’s director notes that before contracting it will be possible to know whether an area has some kind of slave labor, legal reserve, fines, in which biome is inserted, among other features.

– We look for the “DNA” of the area and can revert the image to 10 years before – highlights.

The system is already used in many countries as to the financing of agriculture in the United States, for example. In Brazil, data from the Rural Environmental Registry (CAR) will be essential for accessing the information provided by the satellites.

Source: Canal Rural