13 September 2013 19:02 [Source: ICIS news]
CAMPINAS, Brazil (ICIS)--Brazil development bank BNDES has approved the renewal of BNDES Proplastico programme, which is intended to improve the competitiveness of the nation's plastic-processing industry, it said on Friday, adding the sector can use up to (R)1.3bn ($570m, €428m) by 30 June 2017.
Under the programme, the companies can borrow money to modernise their plants or production. They can also use the loans to develop innovation programmes, BNDES said.
According to the bank, the loans must exceed (R)5m and can be asked directly through BNDES or through finance intermediates.
($1 = 0.75, $1 = R2.28)
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