June 23, 2020 / 5:02 PM / 9 days ago

Brazil cenbank unveils credit program for small firms that could total 55.8 bln reais

BRASILIA, June 23 (Reuters) - Brazil's central bank will cut reserve requirements for banks extending loans to small and micro-sized firms, a program that could free up to 55.8 billion reais ($11 billion) of credit, it said in a statement on its website on Tuesday.

The latest measure to make more liquidity available to small firms struggling in the economic downturn will be targeted at those with an annual revenue of up to 50 million reais, and will have a period of three years. (Reporting by Jamie McGeever Editing by Chizu Nomiyama)

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