October 15, 2020
The Inter-American Development Bank (IDB) said Wednesday that it approved a $200 million loan to provide guarantees for loans to small businesses in Brazil.
The 25-year loan, granted through the IDB's Emergency Access to Credit Program, aims to help small and medium-sized enterprises (SMEs) secure loans to solve temporary liquidity problems during the COVID-19 pandemic, the Washington DC-based development bank said.
The loan carries a spread based on Libor and comes with a 5.5-year grace period.
US-based development bank provides $200 mln to guarantee credit lines for SMEs during the COVID-19 pandemic