Rio de Janeiro, April 12, 2004 (Agência Brasil) - The National Economic and Social Development Bank (BNDES) announced its first loan under the new Program for the Development of the National Software Industry and Related Services (Prosoft), launched on April 1.

The Bank will make US$ 416 thousand (R$ 1.2 million) available to the Powerlogic Consulting and Systems company, based in the municipality of Nova Lima, in the state of Minas Gerais. The company should use the loan to develop a new product line for the corporate site market, as well to create networks of sales, support, and publicity channels.

The total value of the project, which is expected to take 24 months to be put in place, comes to US$ 728 thousand (R$ 2.1 million). The assistance from the BNDES represents 57% of this total.

Prosoft, created in 1997 to give backing to investments made by domestic software companies, was completely revamped to include "special rules that will allow the creation of conditions favoring commercialization and export of national software, important instruments for the consolidation of companies in the sector," informs a note from the BNDES board of directors.

Prosoft investments are projected to amount to US$ 34.6 million (R$ 100 million) this year.

Translator: David Silberstein