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Reuters

Business

By Lisandra Paraguassu

Lula eyes 'green' farm loans to tackle Amazon deforestation

Luiz Inacio Lula da Silva Deforestation Amazon Brazil Aloizio Mercadante Jair Bolsonaro

Brazil's former President and presidential candidate Luiz Inacio Lula da Silva gestures at Alexandre de Moraes' Inauguration ceremony as the new president of the Superior Electoral Court in Brasilia, Brazil August 16, 2022.REUTERS/Adriano Machado

Advisors to leftist Brazilian presidential hopeful Luiz Inacio Lula da Silva are proposing subsidized "green" farm loans to spur planting of soybeans and corn on open pasture and reduce deforestation of the Amazon rainforest.

The proposal, revealed to Reuters by a senior Lula advisor, is one of the clearest examples yet of how the former president has tried to court allies in the powerhouse agribusiness sector while promising more environmentally friendly policies.

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