Brazil

Chamber approves extension of Pronampe

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The Chamber of Deputies approved this Tuesday (12) the bill that extends until the end of 2024 the use of emergency resources from the National Support Program for Micro and Small Businesses (Pronampe). The matter will return to the Senate due to the changes.

The approved text postpones until 2025 the return to the National Treasury of unused amounts from the fund related to loans through Pronampe. The program was created in May 2020 to help small businesses financially while maintaining jobs during the Covid-19 pandemic.

The proposal also makes permanent the use of funds from the Operations Guarantee Fund (FGO) in operations not honored. According to the rapporteur, deputy Marco Bertaiolli (PSD-SP), more than R$ 60.7 billion in credits were offered to more than 826 thousand companies.

“Both devices prove to be of great relevance for the continuity of Pronampe’s operations, which continue to be necessary, since the difficulties faced mainly by individual micro-entrepreneurs, micro-enterprises and small companies, as well as by liberal professionals. It is, after all, a segment that is particularly affected during periods of downturn in economic activity like the one we are still witnessing”, said Bertaiolli.

The rapporteur’s text exempted companies from complying with the clause for maintaining the quantitative of jobs provided for in hiring until December 31, 2021. This rule will again apply to loans taken from 2022.

Credit Stimulus

The proposal also includes changes to the Credit Stimulus Program (PEC), to include access to medium-sized companies with up to R$300 million in annual gross revenue. Currently, this program is intended only for individual micro-entrepreneurs (MEI), micro and small companies, rural producers and fishing and shellfish cooperatives and associations.

So far, the revenue limit is R$ 4.8 million. The contracting of operations of this program, whose period of operation had ended in 2021, will be reopened until December 2022.

Translated to english by RJ983

From Brazil, by EBC News

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