Photo: Gonzalo Aragon/Shutterstock
The Brazilian Development Bank (BNDES) announced an injection of BRL 35 billion into the Brazilian economy.
Another BRL 19 billion will be used by the BNDES to support companies, and other BRL 11 billion will go toward refinancing debts. Very small, small and medium companies will receive specific credit lines, with BRL 5 billion directed to businesses with up to BRL 300 million in annual revenue, limited to BRL 70 million per borrower.
The goal is to help 150,000 companies which employ 2 million people.
Last week, the government had announced that the mandatory fund for length of service FGTS—a fund used for unemployment insurance—will receive BRL 20 billion to support workers.
This post has been updated.
The city of Rio de Janeiro estimates that a Madonna concert this Saturday on Copacabana…
Latin America’s trend of banning opposition candidates from elections has caught on in an ever-growing…
The São Paulo City Council on Thursday approved legislation authorizing Brazil’s largest city to sign…
The preliminary report on AI regulations presented to Brazil’s Senate last week provides a middle-of-the-road…
In 2000, Formula 1 great Michael Schumacher had just racked up his 41st race win,…
Overall, the worldwide economic outlook has improved according to the Organization for Economic Co-operation and…