ANNOUNCED AS TEMPORARYNo
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).
⚑ Please report this page in case you detect an inaccuracy in its content.