ANNOUNCED AS TEMPORARYYes
On 29 October 2013, the Brazilian Company of Innovation and Research (FINEP) announced the approval of a loan of BRL 268.5 million (USD 123.2 million) allocated to Furnas Centrais Elétricas S.A., a local electricity company controlled by the national conglomerate of Eletrobras. The objective of these resources is to finance the innovation projects of the firm.
The repayment deadline for the credit has been set to 29 October 2017.
The resources enclosed on the programs managed by FINEP are limited to Brazilian companies and seek to boost the national and international competitiveness of these businesses.
The interest rates set on the credit lines are composed of the long-term interest rate (TJLP) plus a supplement ranging between 1.5% and 7%, depending on the credit line and the repayment period.
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