National Monetary Council establishes new credit line of up to R$200m, via BNDES, for cereal companies
Nov, 28, 2019 Posted by Sylvia SchandertWeek 201949
The National Monetary Council established, in its ordinary meeting on Wednesday (11/27), a credit line with resources from the National Bank for Economic and Social Development (BNDES) aimed at cereal companies. The funds are for financing investments in civil works and the acquisition of machinery and equipment necessary for the construction of warehouses and the expansion of grain storage capacity.
The measure was provided for in art. 43 of Provisional Measure 897, of October 1, 2019, which authorized the Federal Government to grant economic subsidy to the benefit of these companies. Funds of up to R$200m are available, with an interest rate of 7.0% a.a. and repayment term of up to 15 years, including up to 3 years of grace period.
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