Month: August 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.

Project provides digital assistance to farmers in the Northeast of Brazil

The Ministry of Agriculture project, will bring remote technical assistance to family farmers in the Northeast through the internet at this time of pandemic. The Northeast was chosen because the region concentrates 46.6% of the country’s family farmers. The goal is to reach 100,000 families in the region. The initiative is a partnership between the government and the Inter-American Institute for Cooperation on Agriculture (IICA), and the NGO Precision Agriculture for Development (PAD).

Aneel approves 135 MW in solar energy production in Paraíba

The National Electrical Energy Agency (Aneel) granted to Rio Alto Energia the 35-year concession for the implementation and operation of five photovoltaic plants under the independent production regime, totalling 135 MW of installed capacity in the municipality of Coremas. The solar complex is composed of ten plants with capacity to generate 300 MWp, generating 93 MWp in an area of 300 hectares.

CNPE reduces Renovabio decarbonisation targets in Brazil

The National Energy Policy Council approved a resolution to reduce the annual compulsory goals for the reduction of greenhouse emissions for the commercialisation of fuels under the RenovaBio program. The Ministry of Mines and Energy did not report the amount, but in the proposal presented on July, provided for the emission of 14 million decarbonisat