IDB funnels funds to BNDES

IDB funnels funds to BNDES

Loans Debt Economy & Policy Brazil US Coronavirus

The Inter-American Development Bank (IDB) said Thursday that it granted a $750 million loan for Brazil's national development bank BNDES to provide financing to micro-, small and medium-sized enterprises (MSMEs) that have been hit by the COVID-19 pandemic. The Washington DC-based multilateral lender expects the loan to supply credit lines to more than 11,000 MSMEs affected by the crisis, it said in a press release. The 25-year come with a 5.5-year grace period and a $150 million contribution fro

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