Brazil to launch $1.9 billion credit scheme for micro firms

Brazil will launch a 10 billion-real ($1.9 billion) program to support micro businesses with good credit history but whose finances have been hit hard by the economic impact of the coronavirus pandemic, two Economy Ministry sources told Reuters. The scheme, to be unveiled this week, will be targeted at firms with annual revenue of up to 360,000 reais and will be operated via state-owned lender Caixa Economica Federal.

Source: Reuters