Bill to incentive value-added exports from Brazil

A bill being discussed in Brazil’s Chamber of Deputies aims to incentive value-added exports from Brazil like aircrafts and electronics, Agência Câmara Notícias reported.

The bill 544/22 creates the High Value-Added Exports Program (Proexalto), aimed at creating mechanisms for granting loans, equalizing interest rates and providing credit insurance. Congressman Otto Alencar Filho (PSD-BA), author of the bill, says it aims to broaden the financing options for exporters.

The activities by Proexalto will be paid by a fund called Fiexalto, which will be composed by receiving for 10 years 20% of the revenue from dividends and interests on capital of the Brazil’s state-controlled development bank BNDES. Fiexalto would be managed by a federal bank.

Other banks that join the program will be able to create their own versions of Fiexalto, with dividends from BNDES, as well as resources from the country’s budget and federal government bonds. The bill also provides for creating two other funds to raise resources in the market and allocate them in long-term financing and guarantees for financial transactions of exporters.

Source: ANBA – Brazil-Arab News Agency

To read the full original article, please go to:

https://anba.com.br/en/bill-to-incentive-value-added-exports-from-brazil/

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