Brazil to launch $1.9B credit scheme for micro firms

LatAm List – The Brazilian government is to launch a $1.9B (R$10B)  program to support micro-businesses that have been negatively affected by the COVID-19 pandemic.

The fund will target firms with an annual revenue of up to $67K (R$360K), with an estimated 3 million businesses eligible to receive support.

The program is one of the measures to combat the economic fallout of the COVID-19 pandemic which has forced many businesses to temporarily close and leaving many without an income. The fund will support these businesses to ensure their survival in the long term.

Read more on Reuters.

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