NEWS IN ENGLISH – Dilma signs law that creates incentives for investments, exports and industry

allen — Thu, 06 Sep 2012 14:12:54 +0000

Mariana Branco Reporter Agência Brasil

Brasília – President Dilma Rousseff has signed into law a stimulus package for investments, exports and industry that is part of the Greater Brazil Program (“Programa Brasil Maior”) that was rolled out in April.

Among the measures in the new law is an extension of special interest rates on Brazilian Development Bank (“BNDES”) loans for capital goods and investments in technology and innovation. The law also creates an agency that will guarantee credit operations that face risk (“Agência Brasileira de Fundos e Garantias”). Known as Lei 12.712, based on temprorary decree (“Medida Provisória”) 564, it authorizes the government to increase the capital of the Northeast and Amazonas state-run banks (“Nordeste e Amazônia”).

The main objective of the new law is to reduce the cost of investments and exports.

Allen Bennett – translator/editor The News in English

Link - Dilma sanciona lei que oficializa incentivos a investimentos, exportações e à indústria