Modernizing agricultural disbursements | Visa
GOVERNMENT DISBURSEMENTS Modernizing agricultural disbursements
Visa and Banco do Nordeste: Streamlining Brazilian agricultural subsidy payments
Partnering for success
Banco do Nordeste is the largest development bank in the Latin American/Caribbean (LAC) region. It is also Brazil’s leading bank for disbursements of agricultural subsidies (FNE) from the Fundo Constitucional de Financiamento do Nordeste (Constitutional Fund for Financing the Northeast). Producers can use these funds to make purchases such as equipment, veterinary supplies and formulated feed.
Facilitating digital disbursements
Banco do Nordeste issues a Visa debit card with pre-approved government subsidy credit that crop and livestock farmers can use to make purchases at specified suppliers. After making their selections, the Visa Payables Automation system automatically pays the supplier for everything at once and reconciles the transaction data with the original payment instructions for the farmer and the bank.
Empowering industry growth
Visa Commercial Agriculture Solutions help improve efficiency, convenience and security while streamlining the process required to deploy FNE subsidies, modernizing this formerly cash-based process with improved management, tracking and reporting of government subsidies.
Growing opportunities for the whole community
Government disbursement programs can help reach social and economic benchmarks, streamline the issuing of funds and reduce program costs. Being able to streamline the rollout of a program — and maintain efficiencies when it's running — can help make a significant impact on the local economy and population. Visa believes in offering flexible options to disburse funds digitally to keep financial inclusion initiatives simple and help modernize agricultural transactional processes.
About Banco do Nordeste
Banco do Nordeste is the largest regional development bank in Latin America. Its mission is to act as the region's development bank and implement an agile and selective development policy, capable of contributing decisively to overcoming challenges and building a standard of living compatible with the region's resources, potential and opportunities.
Additional Visa Commercial Agriculture Solutions
Learn more about the agricultural-specific services and features Visa offers that are helping to modernize payments for everyone who works in or with agricultural businesses.
Visit Visa Commercial Agriculture Solutions