Brazil unveils new $1.9 billion credit line for companies hit by US tariffs

BRASILIA (Reuters) -Brazil’s state development bank BNDES announced on Friday a fresh credit line of 10 billion reais ($1.85 billion) for companies affected by steep U.S. tariffs.

The BNDES credit is divided in a line for general operating expenses and another for searching new markets, and complements a 30 billion reais credit line unveiled by the Brazilian government earlier this month.

Brazilian companies of all sizes with products subject to any percentage of U.S. levies may access the BNDES credit line, BNDES said.

($1 = 5.4194 reais)

(Reporting by Bernardo Caram and Isabel Teles)