Brazil’s BNDES Extends Government Lending Program
Post on December 13, 2012, 2:00 pm by the-victoria-law-group 0 Comments
In an effort to stimulate investment and the economy, Brazilian president Dilma Rousseff announced on Wednesday the extension of a government lending program to boost purchases of capital goods, telling business leaders Brazil must increase industrial investment if it is to restore vigorous economic growth. Brazil will extend through 2013 a special lending program by the state development bank BNDES that lowers the cost of capital goods for industries and agriculture, the president said. Finance Minister Guido Mantega later said the credit line would be increased to 100 billion reais ($47.50 billion) for 2013, with 85 billion reais coming from the BNDES and 15 billion reais offered through the banking system.
Read Anthony Boadle’s Reuters article here:
Presented by Miami International Business Attorney