Day: August 20, 2020

Government extends credit to SMEs with $2.2 billion funding

The federal government has extended for three months the term of credit operations under the National Support Program for Microenterprises and Small Businesses (Pronampe). The extension is formalised in an ordinance and received an additional contribution of R$ 12 billion in the Operations Guarantee Fund (FGO) for the granting of guarantees under Pronampe.

Projects for sanitation of concessions and partnerships totalize $11.2 bn

The approval of the new sanitation framework should strengthen the entry of private investments in the sector. The government is studying concessions and Public-Private Partnerships (PPPs) projects that amount to R$ 62 billion ($11.2 bn). Of that amount, R$ 55 billion ($10 bn) are in BNDES and another R$ 7 billion ($1.3 bn) with Caixa. The largest of the projects being structured at BNDES, of R$ 33.5 billion ($6 bn) is in Rio de Janeiro.

Fitch downgrade Gol rating to ‘CCC-‘

The agency Fitch Ratings downgraded Gol’s long-term foreign and local currency rating from B- to CCC-, and also downgraded Gol’s long-term nationwide rating from BB(bra) to CCC(bra). The decision reflects the effects of the drop in demand for travel in Brazil, high uncertainty regarding the recovery of the sector and limited financial flexibility of the company.

Brazilian Minister defends zero interest to Amazon sustainable producer

Farmers who produce in accordance with Brazilian environmental law and in a sustainable way in the Amazon region should have incentives, including lower or “almost zero” bank interest rates, argued Agriculture Minister Tereza Cristina. In the Amazon, the rural producer can use 20% of the area, something that according to the minister should receive incentives if done in a sustainable way.

There is no illegal export from the Amazon, says Mourão

Vice President Hamilton Mourão, coordinator of the Amazon Council, said there are no illegal exports of products leaving the Amazon, in a statement at the World Forum Amazon +21. He also cited that the country has more than 60% of its coverage preserved, a rate that rises to more than 80% in the Amazon region, he said.