BNDES supports Veracel Celulose’s forestry program

The National Bank for Economic and Social Development (BNDES) has approved financing for the forestry program of the company Veracel Celulose S.A., for an amount in local currency equivalent to nearly 40 million dollars. The resources will be allocated to the planting and reforestation of eucalyptus trees on an area of more than 20 thousand hectares in the interior of the State of Bahia, guaranteeing the production of cellulose in a sustainable manner.

Brazil is the second largest global producer of pulp and the tenth largest global producer of paper. Veracel Celulose produces about 1.1 million tons of cellulose annually from eucalyptus fiber.