Caixa releases R$ 7 billion line of credit for the purchase of construction materials.
According to Caixa's Vice President of Emerging Businesses, Fabio Lenza, the amount is valid until the end of 2017, but the line of credit may be increased if there is greater demand; sales of construction materials accumulated a drop of about 14% in the first half of the year compared to the same period last year, according to data from the association representing manufacturers in the sector, Abramat.
Reuters - Caixa Econômica Federal announced this Monday that it has made 7 billion reais available to finance the purchase of construction materials.
According to Caixa's Vice President of Emerging Businesses, Fabio Lenza, the amount is valid until the end of 2017, but the line of credit may be increased if there is greater demand, he said in a statement.
Until Friday, the bank is offering a promotional interest rate of 1,95 percent per month on this line of credit, valid for customers with more than 6 months of relationship with Caixa.
Reuters reported last month that the federal bank planned a series of measures to expand lending to the housing sector, in an effort to accelerate activity in the sector, one of the hardest hit by the recession in the country.
Sales of construction materials fell by about 14 percent in the first half of the year compared to the same period last year, according to data from Abramat, the association representing manufacturers in the sector.
(By Aluísio Alves)