From the Newsroom*
São Paulo – The Brazilian Development Bank (BNDES) and the Inter-American Development Bank (BID) signed today (12) a contract through which the BID will open a US$ 3 billion line of credit to finance programmes by the Brazilian bank in support of the micro, small and medium sized companies. The total value of the project is of US$ 6 billion, where the remaining 50% will be paid by the BNDES itself.
"The resources will allow for small sized companies to have access to long-term financing for their investment projects and, therefore, obtain competitiveness and capacity to increase the number of jobs generated. Currently, these companies answer for about 60% of jobs opportunities in Brazil," said the statement released by the Brazilian bank.
*Translated by Silvia Lindsey
