Brazilian state of Espírito Santo to support production and jobs against pandemic
10/26/2020 Since 3 months
A $30 million loan from IDB will benefit micro, small and medium-sized enterprises in the state's 78 municipalities
The Brazilian state of Espírito Santo will support the financial sustainability of micro, small and medium-sized enterprises (MSMEs) against the COVID-19 crisis as the backbone of jobs and the production sector with a $30 million loan approved by the Inter-American Development Bank (IDB).
The program will provide liquidity to these three classes of company through loans for working capital granted by the Banco de Desenvolvimento do Espírito Santo S/A (BANDES), through a line of financing called a Giro Emergencial. The funds will help MSMEs in the state’s 78 municipalities.
The goal is for BANDES to preserve production and jobs created by MSMEs, particularly in the sectors hardest hit by the pandemic, such as manufacturing, retail trade and services.
The plan also aims to encourage gender inclusion by collecting and monitoring disaggregated data on the sex of the leader or owner of these firms according to best practices. This is expected to boost the share of working capital loans for female-led MSMEs in BANDES’s portfolio.
The $30 million IDB loan has an amortization period of 25 years, with a grace period of five and a half years and an interest rate based on LIBOR.
This post is also available in:
Spanish Portuguese (Brazil)
Asset owners set and commit to report on 2025 targets to support 2050 net-zero emissions
Thirty-three of the world’s largest investors have committed to setting and reporting on 2025 targets to support the transition to net-zero greenhouse gas emissions by 2050. The final Net-Zero Asset Owner Alliance’s I...
Climate change risks and opportunities for the financial sector
UNEP FI, the Inter-American Development Bank (IADB), CAF, the World Bank's IFC, FINRESP and eco.business Fund, organized a series of webinars on "Climate Change and TCFD: Risks and Opportunities for the Banking Sector...
Costa Rica’s National Stock Exchange rewards companies that contribute to a sustainable capital market
Issuers, investors, Safis, stock exchanges, were part of the companies recognized with the BNV Sustainability Awards 2020. November 2020.
The BNV Sustainability Awards are held for the second consecutive year. This ...