Brazil cuts limit on BNDES development bank lending programs

November 13, 2015 10:37 AM

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SAO PAULO Nov 13 Brazil's national monetary council cut the limits on some subsidized lending programs administered by state-run development bank BNDES, according to a statement released on Friday.

The country's main economic policymaking body said it set the limit to a program known as Inovacao-Grandes Empresas to 445 million reais ($118 million), down from 3.3 billion reais. It also reduced limits to a capital goods program for small companies.

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