The government of President Luiz Inácio Lula da Silva will contribute 6 billion reais to the BNDES (National Bank for Economic Development) to finance a new credit line intended for the purchase of new and used trucks.
In addition to the resources of the National Treasury, the bank itself will also use its cash to total the value of the operations. The action is contained in a provisional measure (PM) published Tuesday evening, which takes effect immediately.
Interest rates have yet to be set by the National Monetary Council (CMN). After the publication of the MP, the government will have to approve the measure in the National Congress to guarantee the continuity of the credit line.
According to the text, the credit line should benefit:
- independent truck drivers
- truck drivers associated with road transport cooperatives
- individual entrepreneurs and legal entities in the road transport sector
Financing for new trucks will be limited to domestically manufactured vehicles, while loans for used vehicles will be limited to independent truck drivers and those associated with cooperatives.
The objective of the measure is to encourage the purchase of trucks in the face of the slowdown in the sector, highlighted by road transport representatives.
The National Treasury operation is considered a financial expenditure and, therefore, is not taken into account in achieving the budgetary target, but has an impact on the country’s public debt.
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