September 25, 2020
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
US-based development bank grants a $750 mln loan to finance to small businesses hit by COVID-19 in Brazil