ANNOUNCEMENT 21 Jan 2016
On January 21, 2016, the Brazilian government allowed for the expansion of the insurance for exporting companies provided by the Brazilian Managing Agency of Insurance and Guarantee Funds (Agência Brasileira Gestora de Fundos Garantidores e Garantias S.A) to cover agriculture and defense exports.
NUMBER OF INTERVENTIONS
Chief of Staff of Brazil Decree Number 8.643, decreto Nº 8.643, de 21 de janeiro de 2016,
Since the inception of Decree number 8.643, the Brazilian government agencies may also cover exports in agricultural and defence sectors with export credit insurance. For the agricultural goods, the eligibility is restricted to destinations where Brazil enjoys preferential export quotas. Previously this insurance did not cover such sectors.
Furthermore, his insurance may cover up to 100% of the goods costs in the case of SMEs. However, it may cover companies of all sizes.