Chamber passes bill that grants guaranties for company loans

The bill allows banks to grant Covid-19 line of credit for working capital up to US$24 billion. This will be valid until April 2021. The bill relaxes the requirements for accessing these lines of credit, which will have by law a rate that will not exceed the Central Bank’s MPR of 0.5% plus 3%, which means that under current conditions the nominal rate should not exceed 3.5% (close to 0% in real terms).

Source: EMOL