Programme to reduce youth unemployment is expected to cost $1.1 bn

The program being called Productive Inclusion Bonus (BIP) is expected to cost around R$ 6 billion ($1.1 bn) to the public coffers and aims to reduce youth unemployment. The beneficiary would receive up to R$ 600 ($110), which would be divided between the government and the employer. The idea so far is that the amount paid by the Union could vary from R$250 to R$300 – ($45 – $55) the other part would be paid by the employer.

Source: Valor Investe

Brazil totals 1 GW in commercial operation of new generation in 2021

Data from Aneel indicates that in April Brazil reached 1,007 MW of installed capacity with commercial operation starting in 2021, with 324.45 MW released by the agency last month alone. Wind generation was, for the fourth consecutive month, the source with the highest volume of energy with commercial operation authorized, registering 218.45 MW of power with commercial operation started, 67% of April’s total.

Source: Energia Hoje

Industrial production in Brazil falls 2.4% in March, says IBGE

Brazilian industry ended the first quarter with falling production in March, pressured by vehicles at a time of intensified restrictive measures due to the resurgence of the Covid-19 pandemic in the country. In March production fell by 2.4% compared to the previous month, according to the Brazilian Institute of Geography and Statistics (IBGE).

Source: Money Times

Bradesco announces $45 bn to social and environmental initiatives

Bradesco has announced the goal of directing R$250 billion ($45 bn) to sectors and assets of positive socio-environmental impact through its businesses by 2025. The goal, according to the bank, considers the granting of credit for activities classified as having a positive contribution, financial products and services with a social and environmental focus for individuals and companies.

Source: UOL Economia

TIM sells 51% stake in fiber business for $472 mm

TIM Brasil has signed an agreement with IHS Brasil Participações for a partnership at FiberCo Soluções de Infraestrutura. IHS will hold 51% of the fiber-optic infrastructure company, which is focused on providing wholesale services, and TIM Brasil will hold the remaining 49%. HIS, a Nigeria-based telecoms infrastructure provider, will invest R$2.6 billion ($472 mm) for its stake in FiberCo. The new company will be responsible for the “last-mile” infrastructure, the final stretch to the client’s home.

Source: Valor International