BNDES wants to boost credit for micro to mid-sized firms

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Tuesday, October 18, 2016

Brazilian development bank BNDES is set to announce a series of measures to boost access to credit for micro, small and medium-sized companies in December.

BNDES president Maria Silvia Bastos Marques said on Monday that the "most effective" measures would be included in a plan expected to be put into play in January, according to local daily Estadão.

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"We can do more and better for micro, small and medium-sized companies," she said during the 3rd national CACB Mil forum, organized by the confederation of commercial and business associations of Brazil (CACB), the Brazilian association of small companies (Sebrae), the Rio de Janeiro federation of trade associations (Facerj) and the Rio de Janeiro trade association (ACRio).

Bastos Marques also said the bank has formed an internal group to look at a series of measures to simplify access to credit for these businesses.

Among the measures being discussed are the BNDES card, originally launched in 2011 with a credit line to support micro, small and medium-sized companies. The new version is being called Card 2.0 and would have a more open and targeted platform.

"We could eventually use this card for microcredit," Bastos Marques said. "We're discussing it."