The National Bank for Economic and Social Development (BNDES) of Brazil approved for the 3rd time the extension of the standstill update, an action of temporary suspension of the payment of loans contracted with the Bank, for up to 6 months for specific sectors and for up to 12 months for the audiovisual sector, with the possibility of extending the total financing term and changing the amortization system.
The standstill extension is part of the socioeconomic measures of immediate execution approved by the bank with the aim of helping to mitigate the effects of the new coronavirus pandemic in Brazil.
Orders will be accepted until June 30, 2021 and among the sectors covered is metro rail transport for passengers.
Click here to read the full release, in Portuguese.
