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Car Exporters in Brazil Get New Line of Credit from BNDES

The Brazilian Development Bank (BNDES) announced the creation of a new line of credit to finance Brazilian exports of light vehicles, in other words, cars. According to the bank, as of now, financing may cover up to 55% of the deal. Before this, the maximum percentage was of 30%.

The institution decided also to reduce the basic spread of 4.5% per year to 3.8% per year. This is a "prize" that the bank charges as well as the basic interest rate, which in the case of the BNDES is the long term interest rate, which today is at 7.6% per year.

To have access to this benefit, however, the carmakers planning to export will have to take up the commitment of increasing or maintaining the employment level in their factories.

The BNDES started financing cars exports last year and from then on loaned US$ 853 million in credit for this kind of business.

Larger Technology Budget

A study by consultancy IDC Brazil shows that 55% of the Brazilian manufacturers will have 12% greater information technology budgets this year than they had in 2005. The study shows that in the segment of small and medium companies, the budgets will be turned mainly to hardware and, among large companies, to integration and implementation, and software.



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