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Government to the Rescue of Flooded Fish Farmers

BRAZIL - Fish farmers from the northeast region of Brazil will receive BRL 100 million (USD 48.4 million) to finance the economic repercussions of the recent floods that devastated many shrimp farmers.

According to the news organisation FIS, Fisheries and Aquaculture Minister Altemir Gregolin stated as much after meeting on Friday with the president of the Bank of Northeast Brazil, Roberto Smith, in Fortaleza.

According to the banker, the aid requests will be dealt with on a case-by-case basis. The refinancing of debt spans from April 2009 to June 2010.

FIS report that the intense rain and floods led to great economic losses among shrimp producers, that total BRL 80 million (USD 38.7 million). This amount represents a loss of 40 per cent of production, that is, some 8,000 tonnes.

the Fish Site Editor

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