By Jay Forte, Contributing Reporter
RIO DE JANEIRO, BRAZIL - The Conselho Deliberativo do Fundo de Amparo ao Trabalhador (CODEFAT, Deliberative Council of the Worker Support Fund) approved yesterday (May 9th) the creation of a $5 billion line of credit to finance working capital for micro and small businesses. The new credit line will be available to micro and small companies with annual gross revenues of up to R$3.6 million.
Called the "PROGER Urbano - Capital de Giro" (Urban PROGER - Working Capital) is comprised of R$2 billion from the Worker Support Fund (FAT) and R$3 billion National Bank . . .
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