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RIO DE JANEIRO (Reuters) – The National Bank for Economic and Social Development (BNDES) presented proposals to the government to help retail after the Americanas crisis, including strengthening the sector’s guarantee fund and creating a kind of Investment Fund in Credit Rights (FIDC), said the president of the institution, Aloizio Mercadante, this Tuesday.
The situation at Americanas, which went into court-supervised reorganization in January after an accounting breach of around 20 billion reais was revealed, has raised concerns about greater difficulty in accessing credit by companies and suppliers in the sector.
“We have the technology for that and we can help retailers a lot,” said Mercadante, in a presentation of the BNDES’ quarterly results.
He also stated that it is necessary to create a financing mechanism that is associated with anchor companies in the national retail sector in order to guarantee access to credit for suppliers.
Mercadante added that he has been talking about the crisis in the retail network with the Brazilian Federation of Banks (Febraban) and the Institute for the Development of Retail (IDV).