ANNOUNCEMENT 11 Feb 2016

The Brazilian government-funded Company of Innovation and Research (FINEP) approved a BRL 173.8 million loan to Companhia Siderurgica Nacional.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Brazilian Company of Innovation and Research. Empresa Brasileira de Inovaçao e Pesquisa. Projetos contratados e valores liberados. Retrieved on 02/05/2018. Available at: http://finep.gov.br/acesso-a-informacao-externo/transparencia/projetos-contratados-e-valores-liberados

Brazilian Company of Innovation and Research. Empresa Brasileira de Inovaçao e Pesquisa. Financiamento Reembolsável. Available at: http://finep.gov.br/component/content/article/120-apoio-e-financiamento/tipos-de-apoio/financiamento-reembolsavel/42-financiamento-reembolsavel

Inception date: 11 Feb 2016 | Removal date: 11 Aug 2018
Still in force

State loan

On 11 February 2016, the Brazilian Company of Innovation and Research (FINEP) announced the approval of BRL 173.8 million (circa USD 43.8 million) loan allocated to the local metal manufacturer Companhia Siderurgica Nacional. The objective of these resources is to develop a new more environmentally friendly steel product for the automotive industry that will help to reduce fuel consumption.

The repayment deadline for the credit has been set up on 11 August 2018.


FINEP lending
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.

AFFECTED SECTORS