ANNOUNCEMENT 13 Aug 2013

The Brazilian government-funded Company of Innovation and Research (FINEP) approved a loan of BRL 127.2 million to Vetria Mineração 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: 13 Aug 2013 | Removal date: 13 Feb 2015

State loan

On 13 Agust 2013, the Brazilian Company of Innovation and Research (FINEP) announced the approval of a loan of BRL 127.2 million (USD 55.1 million) allocated to Vetria Mineração S.A., a local mining company that extracts iron ores. The objective of these resources is to finance investments in integrated logistics.

The repayment deadline for the credit has been set to 13 February 2015.


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

 
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AFFECTED PRODUCTS

 
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