RIO DE JANEIRO, BRAZIL - Brazil's National Bank of Economic and Social Development (BNDES) has announced that it will inject R$55 (US$11) billion into the economy. According to the Bank's chairman Gustavo Montezano, the amount represents virtually the entire bank's outlay last year.
The credit limit per beneficiary will increase from R$10 million to R$70 million per year, in an attempt to boost companies' working capital. In addition, R$5 billion will be offered as quick support to micro- and small-sized businesses.
Another action is the expansion of the BNDES Small Business Credit . . .
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