With the intention of assisting more companies and boosting the competitiveness of Brazilian exports, Brazil’s Executive Management Committee (Gecex) of the Foreign Trade Chamber (Camex) updated the criteria for companies that can receive support from the Export Financing Program – Proex. The decision takes effect on May 1, 2023. Instead of the previous cap of BRL 600 million, companies now have the option to apply for the program if their yearly gross income is up to BRL 1.3 billion. The new value is calculated as the average of the current limit, which is BRL 600 million, and the restated value in reais (BRL) of the dollar equivalent of the limit in force on the date of its establishment.
Source: Jornal Cana (*Translated by Ia Niani)