Mercadante to 247: ‘Rio Grande do Sul will rise up. It’s Lula’s decision. And BNDES will be on the front line’

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247 – The president of the National Bank for Economic and Social Development, Aloizio Mercadante, stated this Thursday (9) that the BNDES has a “credit portfolio of R$ 22 billion” for Rio Grande do Sul, for “companies that are based” in the state, where 107 people died and 232 thousand people have been out of their homes since the 29th because of the floods. According to figures released by local authorities. The state has 428 of its 497 cities with problems due to the storms, leaving 1.476 million people affected.

“Rio Grande do Sul will rise up. It’s Lula’s decision. And the BNDES will be on the front line”, said Mercadante in an interview with journalist Marcelo Aulerof 247. “They (RS companies) can suspend payments for up to a year. It’s a relief that will have an impact of up to R$7 billion. The bank will be supportive.”

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The head of BNDES also said that the bank increased “the Guarantee Fund by R$500 million, with a contribution from the Treasury”. “This will allow banks operating in RS to offer credit guaranteed by BNDES, of up to R$5 billion more, to rebuild companies. We are relieving debt payments and putting money into the reconstruction process.”

Statistics released by Gaucho authorities showed that Rio Grande do Sul has 136 missing and 374 injured. There are 232.6 thousand people away from home – 67 thousand in shelters and 165 thousand homeless (living with family or friends).

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In the interview with 247, the president of BNDES also commented on the increase in the institution’s profit in the first quarter and in credit operations. “A very strong, exceptional result. BNDES returned with great strength and with a very good outlook for 2024.”