Brazil cut limits on BNDES development bank lending program

13 Nov, 2015

SAO PAULO: Brazil's national monetary council cut the limits to a subsidized lending program administered by state-run development bank BNDES, according to a statement released on Friday.

The country's main economic policymaking body said it set the limit to a program known as Inova??o-Grandes Empresas to 445 million reais ($118 million), down from 452 million reais.

It slightly raised the limit to a capital goods purchase program for small companies.

The council in October more than halved funds earmarked for a capital spending program known as PSI as part of the government efforts to roll back costly public subsidies.

Copyright Reuters, 2015

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