Brazilian government offers support to companies
Brazil’s state development bank is to offer 5.5 billion reais (£1.5 billion) of support to finance agribusiness and construction companies that need working capital.
The BNDES-led programme will make funds available to companies as risk of bankruptcy to help stabilise them, reports Xinhaunet.com.
It was announced yesterday (October 20th) following a meeting between Brazilian president Luiz Inacio Lula da Silva and heads of several state-owned banks in Sao Paulo.
Increased economic stability could come as good news for people thinking about investing in property in Brazil.
It is thought that the loans will mainly be taken by small and medium-sized businesses.
Brazil’s finance minister Guido Mantega added that the government’s social programs will not suffer any investment cuts as a result of this initiative, reports the news provider.
Meanwhile, Adman Kassar, the owner of one of Lebanon’s largest banks, recently told Brazzil Magazine that Brazil is one of the best locations for investment.
