From the Newsroom*
São Paulo – The Bank of Brazil (BB) reached, in January, a total of 1 billion Brazilian reals (US$ 572 million) turned to the financing for productive clusters. Approximately 7,000 enterprises were benefited. The money was used for turning capital, investment, foreign trade and agribusiness.
For four years the BB has turned credit to clusters. In 2003, when the program started, just 68 million reals (US$ 39 million at current exchange rates) were turned to the program. In 2008, the BB intends to aid 170 clusters, and the plan is to turn 1.5 billion reals (US$ 859 million) in their direction.
Apart from differentiated conditions in the available lines of credit, the companies participating in the clusters can count on the managers at the bank who know of the collective needs of the community and of the companies, and who are prepared to present adequate banking solutions to the sector. This information was provided by the BB press department.
*Translated by Mark Ament
