*Brazil’s state development bank (Bndes) has announced that it will expand the credit to be offered to companies impacted by the US tariffs which took effect on 6 August. On 13 August President Luiz Inácio Lula da Silva unveiled measures to mitigate the impacts of US tariffs on the Brazilian economy, including a credit line of R$30bn (US$5.5bn). Bndes announced an additional R$10bn in credit. Speaking at a press conference on 22 August, the Bndes president Aloizio Mercadente said that the bank will prioritise funding for companies that have suffered an “abrupt” loss of export capacity and are projected to lose more than 5% of their revenue.
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