BRASILIA Aug 1 Japan agreed on Friday to lend
$200 million to Brazil's Amaggi Exportacao e Importacao, one of
the world's largest soybean growing operations, as the Asian
country deepens its footprint in Brazil's farm belt.
The deal was signed by Kazuhiko Bando, president of export
credit agency Nippon Export and Investment Insurance (NEXI) and
executives of Amaggi, in the presence of Brazilian President
Dilma Rousseff and Japanese Prime Minister Shinzo Abe.
Financing will come from Sumitomo Mitsui Banking Corp
(SMBC), the main banking unit of Tokyo-based Sumitomo Mitsui
Financial Group, and is guaranteed by NEXI. It is one
of nine deals signed between the two countries.
Amaggi, controlled by Mato Grosso state Senator Blairo
Maggi, produces and processes grain in Brazil's center-west and
sells to traders including Japan's Marubeni Corp..
Another Japanese trading house, Mitsui, has been developing
agricultural projects in Brazil via its subsidiary Multigrain
since 2007 and last year formed a joint venture with Brazil's
(Reporting by Anthony Boadle; Writing by Caroline Stauffer;
editing by Gunna Dickson)