ANNOUNCEMENT 22 May 2019

The National Bank for Economic and Social Development of Brazil (i.e. BNDES by its acronym in Portuguese) has approved a loan of BRL 86.8 million to finance the exports of Teksid do Brasil Ltda.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 02 May 2019 | Removal date: open ended

Trade finance

On 2 May 2019, the BNDES has approved a pre-shipment loan to Teksid do Brasil Ltda to finance its exports of iron and aluminium products.

The total value of the approved loan has been circa BRL 86.8 million (circa USD 22 million at the time of the approval).

The economic resources have been distributed via the BNDES Exim Pré-embarque credit scheme which provides companies with loans with preferential interest rates of up to 80% for big companies and 100% for SMEs, and terms ranging between 3 and 4 years depending on the size of the company. Moreover, these credits are disbursed before the manufacturing and exportation of the goods.