Brazil's National Development Bank President Says Brazil is Considering Launching Aid Plan to Address the Impact of Oil Crisis

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2026-03-17 17:30:29

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Investing.com – According to the president of Brazil’s National Development Bank (BNDES) on Tuesday, the Brazilian government is considering launching an aid program to help address the ongoing oil crisis.

BNDES President Aloizio Mercadante said the proposed measures will mark a new phase for the aid program launched last year, which aims to assist exporters affected by higher U.S. tariffs.

The initial version of the program provided affected companies with favorable interest rate credit support.

Mercadante stated that the first phase of the program still has a surplus of 6 billion reais ($1.15 billion) available for use.

He added that the priority support will be given to the fertilizer sector and other industries still facing tariffs exceeding 15% from the U.S.

Mercadante said discussions are currently underway with Vice President Geraldo Alckmin regarding potential new aid measures.

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