Senate authorises $200 million credit to small and medium enterprises

The Senate approved the authorisation for contracting an external credit operation, in the amount of up to $200 million, by the federal government with the Inter-American Development Bank (IDB). The funds will be used to finance the Emergency Programme for Access to Credit, which is implemented by the Ministry of Economy and the National Bank for Economic and Social Development (BNDES).

Source: Money Times

Organic sector grows 30% in Brazil in 2020

Despite all the economic crisis generated by the pandemic of Covid-19, the sector of organic products recorded a 30% increase in sales in 2020, moving R$ 5.8 billion ($1.1 bn), according to a survey by Organis – Association for the Promotion of Organics. The year was also marked by the advance of these products to the country’s inner cities.

Source: SP Investe

Suzano makes $1.1 bn profit in Q4

Paper producer Suzano had net profit of R$ 5.914 billion in the fourth quarter of last year, a strong jump from the positive result of R$1.175 billion ($217 mm) recorded in the same period of 2019. The performance was supported by a jump in the company’s positive financial result, driven by foreign exchange and derivative gains. The line rose from R$ 1.6 billion ($297 mm) in the fourth quarter of 2019 to R$ 6.2 billion ($1.1 bn) in the three months ended last December.

Source: 6 Minutos