ANNOUNCEMENT 17 Oct 2013
The Brazilian government-funded Company of Innovation and Research (FINEP) approved a loan of circa BRL 49.7 million to Peugeot Citroën do Brasil Automóveis Ltda.
NUMBER OF INTERVENTIONS
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
On 17 October 2013, the Brazilian Company of Innovation and Research (FINEP) announced the approval of a loan of almost BRL 49.7 million (circa USD 23 million) allocated to Peugeot Citroën do Brasil Automóveis Ltda., the Brazilian subsidiary of Peugeot S.A. These resources will be allocated to an R&D project to develop biofuel-based engines.
The repayment deadline for the credit has been set to 17 October 2016.
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.