Chamber passes Fogape 2.0 into law

The Chamber of Deputies passed Fogape 2.0 into law. Fogape 2.0 aims to expand state-guaranteed loans to SMEs amid the devastation caused by the pandemic. One of the changes made by the senate include that the rate to be charged by the bank on an annual basis cannot be higher than the MPR plus 0.6% per month. This translates into a maximum of TPM+7.2% per year.

Source: Emol