Brazil proposes $133.89 bn for new sanitation project

The new sanitation project aims at the universalisation of basic sanitation by 2033. Currently, 100 million people do not have sewage collection and 34 million are without drinking water. Currently, only 6% of cities are served by private initiative. In the other 94%, the service is provided by state-owned companies. The estimated cost of the project is R$700 billion ($133.89 billion).

Source: Folha

29 global investment firms call to stop deforestation in the Amazon

A group of 29 global investment firms that manage $3.7 trillion are demanding meetings with Brazilian diplomats around the world to call the government to stop soaring deforestation in the Amazon. Deforestation in the Brazilian Amazon increased by a further 34 % in the first five months of 2020, according to data from the government space research agency INPE.

Source: Reuters

BC announces up to $10.5 bn in credit to small business

Brazilian Central Bank has announced measures that can facilitate lending to companies with annual revenues of up to R$50 million ($9.4 mm). Through the measure, the monetary authority aims to mitigate and prevent the economic and financial effects of the spread of the coronavirus pandemic. The monetary authority estimated that the measure could release up to R$ 55.8 billion ($10.5 bn).

Source: Infomoney