IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

SMEs

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 23 Aug 2017 | Removal date: open ended
Still in force

State loan

On August 23, 2017, the President of the Republic of Brazil, Michel Temer, announced the launch of the Giro Program, a new credit line managed by the National Bank for Economic and Social Development of Brazil (i.e. BNDES by its acronym in Portuguese). This program consists of a new line of working capital credit for micro, small and medium-sized enterprises, with a total budget of circa USD 6.4 billon (BRL 20 billion). It is estimated that the credit line will have an average interest rate of 1.5% per month, depending on the credit risk and the size of the company which represents a reduction of approximately 30% in the cost of existing lines today.

Previous similar credit lines had a total budget of circa USD 1.3 billion (BRL 4 billion).

AFFECTED COUNTRIES

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