Banks in Brazil Will Offer Credits To Companies Affected Economically By the Pandemic
Many Companies Are already Struggling
Financial repercussions are caused by the pandemic with the spreading of the disease caused by the coronavirus. The recent announcement that there will be a credit supply for Companies affected was made by Chairman of the Caixa Bank, Pedro Guimarães. The declaration was also backed by the Chairman of Banco do Brasil, Mr. Ruben Novaes; as well as the current Minister of Economy, Paulo Guedes.
The Decision Was Made After a Meeting in Brasília
The announcement was officially done after the Meeting that happened at a Brazilian Ministry Office. Even though there is a public announcement, Mr. Novaes; stated that there are no exact estimations for now. Those economical measures are going to be directed mostly towards medium or small businesses in the Brazilian territory.
30 million Brazilian Reais are expected to be supplied
The amount will be available for consigned credit and also the financing of automobile loans. Some financial institutions can have some problems related to the current pandemic. Employees might need to stay at home, people who get the disease also might be unable to work for months. Certainly all of those factors that are related to the Covid-19 pandemic and will affect the Economy of many countries directly.
The availability of money for loans will increase the chance to maintain an economical stability
Not only regular businesses will have this kind of availability, 40 billion in Brazilian Reais will also be made available to the financial institutions in the Country. The decision might seem extreme for many, but this is a wise way to maintain the stability that was so hardly attained and, certainly, not for the sake of a virus. But only in the near future we will be able to know the results of the pandemic over our Economy.
In this article we talked about measures that were recently announced to maintain the Economical stability in Brazil. Did you like the information we shared? Don’t forget to like our post and share it with all your friends.