Coronavirus: Government launches measures to help small and medium-sized companies

BRAZIL POLITICS - Report 27 Mar 2020 by Murillo de Aragão and Cristiano Noronha

The presidents of the Central Bank, Roberto Campos Neto, Caixa Econômica Federal, Pedro Guimarães, and BNDES, Gustavo Montezano, announced a series of measures to help small and medium-sized companies, in addition to people economically affected by the coronavirus.

The creation of an emergency line of credit was announced to exclusively finance small and medium-sized payrolls for businesses with revenues between R$ 360,000 and R$ 10 million for two months.

The government’s expectation is that this will benefit 1.4 million companies helping 12.2 million people. The total volume of the operation is R$ 40 billion. According to the Central Bank, the guarantee for the maintenance of jobs will be made under contract. The government program guarantees up to two minimum wages.

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