ANNOUNCEMENT 16 Apr 2014

The Brazilian government-funded Company of Innovation and Research (FINEP) approved a BRL 254.9 million loan to Petróleo Brasileiro S.A.

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: 16 Apr 2014 | Removal date: open ended

State loan

On 16 April 2014, the Brazilian Company of Innovation and Research (FINEP) announced the approval of a loan of circa BRL 255 million (USD 114 million at the time of the measure) allocated to Petróleo Brasileiro S.A. (Petrobras), the state-owned hydrocarbons company. The objective of these resources is to finance the biofuels technology program of the company.

The repayment deadline for the credit has been set to 16 October 2017.


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

 
N/A

AFFECTED PRODUCTS

 
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