Home / Knowledge / News / Textiles / Brazilian govt launches export credit insurance for MSMEs
Brazilian govt launches export credit insurance for MSMEs
11
Feb '14
The Brazilian Ministry of Finance has launched export credit insurance for micro, small and medium enterprises (MSMEs), including textile and apparel enterprises in the country, in order to encourage entrepreneurs to increase exports.
 
According to a statement issued by Brazilian Government, the companies eligible to avail the export credit insurance are those with annual revenues of up to US$ 90 million and exports products worth US$ 1 million.
 
The insurance will be granted on the export of goods and services with the marketing term financing of up to two years operations. The Brazilian Government's goal is to reach $1 billion in guarantees per year by 2018 through this tool.
 
According to the Ministry, the lack of guarantees is a limitation for these MSMEs, including textile and apparel, to access public and private funding, and with this insurance the Government aims to facilitate exports of various products, including textiles and apparel, from the MSMEs.
 
The insurance can ensure the financing of exports of the MSMEs conducted through any bank and would increase competitiveness between these MSMEs.
 
The MSMEs willing to avail the export credit insurance would be required to visit the website of the Brazilian Export Credit Insurance (ESCB) and would need to provide information required by the Public Guarantees System.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 28th Apr 2017

Fix 5% GST rate for textile goods: Textile bodies

Uniform levy of 5 per cent Goods and Services Tax (GST) on all...

Textiles | On 28th Apr 2017

India lifts CVD imposed on Nepali Jute goods

The countervailing duty (CVD) that was imposed on Nepali jute...

Courtesy: Williamsburg Garment Company

Fashion | On 28th Apr 2017

'We have grown by staying small & maximising efforts'

The easiest way to go out of business is to be too big or expand too...

Interviews View All

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X