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

BNDES suspends loan collection for small business

The National Bank of Economic and Social Development (BNDES) confirmed on Thursday, 29, that will reissue the suspension of debt collection from small and micro enterprises. The measure affects companies with annual turnover of up to R$ 4.8 million ($870k). BNDES estimates that about 100 thousand companies may benefit. With the suspension for six months, R$ 2.9 billion ($527 mm) will no longer be collected, according to the bank’s calculations.

Source: UOL Economia

Privatization of the Correios should happen in 2022, estimates BNDES

The privatisation of the Post Office should only happen in 2022, said the director of BNDES Leonardo Cabral, who estimates that at least 70% of the company’s capital is offered to the private sector. The idea is that the Union is only with a minority stake in the company to not hinder the competition and the operation of the company.

Source: Money Times

Embrapa generates ‘social profit’ of $11 bn in 2020

The “social profit” generated by the Brazilian Agricultural Research Corporation (Embrapa) reached R$61.85 billion ($11 bn) in 2020. The value was calculated based on the analysis of the economic impact of 152 technological solutions and about 220 cultivars developed by its researchers. The net revenue of the state-owned company, linked to the Ministry of Agriculture, was almost R$3.5 billion ($625 mm) last year.

Source: Valor Investe