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Brazil Industry Hopeful New Housing Fund Will Boost Economy

The São Paulo industrial sector is optimistic about the economic effects of the National Social Interest Housing Fund, sanctioned June 16 by Brazilian President Luiz Inácio Lula da Silva.

“The construction industry is important and employs many people,” the president of the Federation of Industries of the State of São Paulo (Fiesp), Paulo Skaf, commented.


“With programs like this, together with the drop in interest rates, the recovery of foreign currency exchange rates, and the reduction of government spending, the outlook will undoubtedly be positive,” he affirmed.


In the judgment of the director of the Fiesp’s Committee for the Construction Industry Productive Chain (Comcic), Mário William, the law establishing the National Social Interest Housing Fund and the National Social Interest Housing System represents a “good incentive” for the construction industry.


The proposal, which circulated in the Congress for 13 years before being approved at the end of May, is mainly intended to combine and coordinate housing resources at the three levels of government – federal, state, and municipal -, and direct them to the benefit of low income families.


The World Bank approved a US$ 502.5 million loan to the National Treasury, to be used on behalf of Brazilian government policies. Of this total, US$ 4 million will go to technical assistance projects in the housing sector, according to the secretary of Housing, Inês Magalhães. The government will have 17 years to repay the loan.


For Magalhães, this loan reflects recognition of the policies and initiatives implemented by the federal government, such as the National Social Interest Housing Fund (FNHIS). She affirms that the funds will help with the measures to reformulate and regulate these programs.


ABr – www.radiobras.gov.br

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