Brazil’s SMEs get IDB Support

The IDB has approved a first loan of $1bn out of a $3bn credit line for Brazil to help boost lending to micro, small and medium enterprises in the country. The credit line will include matching funds from BNDES, the IDB says. The $1bn loan, first in a series of three under the credit line, is for a 20-year term, including a four-year grace period, at a Libor-based interest rate.