BNDES Opens BRL6bn Working Capital Fund

Brazilian development bank BNDES has launched a BRL6bn credit line to support the working capital needs of Brazilian companies in the industry, commerce, and non-construction service sectors. The special credit program will make funds available until June 30, at a limit of BRL50m per loan. Funds can be taken out for up to 13 months at rates up to 20.5%, varying according to individual borrowers.