BNDES approves R$ 4 billion for companies affected by US tariff hikes.
The demand for resources reached approximately R$ 6,7 billion.
SAO PAULO (Reuters) - Brazil's National Bank for Economic and Social Development (BNDES) has already approved approximately R$4 billion in resources to support Brazilian companies affected by the increase in import tariffs from the United States, said the institution's president, Aloizio Mercadante, on Friday.
The demand for resources reached approximately R$6,7 billion.
At the end of September, BNDES had approved R$2,1 billion in credit, with a demand of approximately R$4,8 billion for the funds.
The Sovereign Brazil Plan, created to counter US tariff increases, has R$40 billion in funding. Of this total, R$30 billion comes from the Export Guarantee Fund (FGE) and the remainder from BNDES itself.
Mercadante emphasized that there will be no shortage of resources and support to help national companies.
