The external credit operation aims to finance the Productive Development Program for the Northeast Region
The Senate approved on Tuesday (June 25, 2024) authorization for BNB (Banco do Nordeste do Brasil) to contract a loan of US$300 million from the IDB (Inter-American Development Bank). The external credit operation, which will be guaranteed by the Union, aims to finance Prodepro (Productive Development Program for the Northeast Region).
Sent by the Executive, the proposal received a favorable report from the senator Jacques Wagner (PT-BA) in the CAE (Economic Affairs Committee). At the meeting, the opinion was read by Senator Janaina Farias (PT-CE) as substitute rapporteur.
In his report, Wagner mentions that the PGFN (Attorney General’s Office of the National Treasury) gave approval for the loan. The report also states that the National Treasury Secretariat was in favor of offering the Union guarantee for the operation.
The credit operation will have a total term of up to 300 months (25 years), with a grace period of 66 months and semi-annual installments. The text determines a counter-guarantee worth up to US$ 360 million in federal public securities.
According to the Executive, the program that will receive the investments aims to promote sustainable development in the Northeast by reducing bottlenecks in infrastructure relevant to strategic production chains. The intention is to improve the competitiveness of companies in the region through “eco-efficient projects and investments in technical training and innovation in processes and products”.
Janaína Farias pointed out that the resources will help not only the Northeast, but also some municipalities in other regions.
“This loan is important for the Northeast, the North of Minas and part of Espírito Santo”said the senator.
With information from Senate Agency.
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