Low-Income Brazilians Get Government Loan to Get Own Homes

Brazilian families that earn up to five minimum wages will be eligible to receive loans and subsidies to purchase their own homes or buy construction materials.

The measure, which was announced today by the Ministry of Cities, will allocate US$ 476 million (1.2 billion reais) for this program. It is expected that 150 thousand families throughout the country will be benefitted.


The Minister of Cities, Olí­vio Dutra, informed that priority in the distribution of resources will be given to projects in partnership with municipal administrations, cooperatives, or neighborhood associations.


The national secretary of Housing, Jorge Hereda, explained that the loans will be repayable in up to 72 months.


ABr

Tags:

You May Also Like

Brazil Sees Paraguay’s Coziness with US as Reason for Concern

The creation of the Mercosur Parliament (Parlasur), scheduled to begin operations in January, was ...

Brazil to Send Observers to Palestinian Elections

At the invitation of the Palestinian National Authority (PNA), Brazil is going to send ...

Brazil to Become in a Decade World’s 3rd Largest Car Maker, Ahead of Japan

Car production capacity in Brazil should jump from the current 3.6 million units per ...

Brazil Spares World’s Poorest Countries from Import Tariffs

Since the Doha Round, a negotiation on trade liberalization between developed and developing countries ...

RAPIDINHAS

Ugly and diminutive, Catullo da Paixão Cearense was a giant of Brazilian music during ...

Either Rio Stops Crime or Crime Will Stop Rio

According to the latest Latin America edition of U.S. weekly magazine Newsweek, Rio de ...

US$ 12 Billion: Brazil’s First Quarter Surplus is a Record

Brazil’s trade balance surplus (exports minus imports) amounted to US$ 3.876 billion in April, ...

Brazil Real Gives Dollar a Run for Its Money

Brazilian markets slipped, with declines limited as ongoing dollar weakness is seen benefiting countries ...

Brazil Has a Chance to Show Its Health Care Goods in the Middle East

Brazilian company Hospimetal, a maker of hospital equipment, made a series of contacts during ...

Is Brazil Patent Breaking Bad? There’s No Agreement.

Although many AIDS advocates are praising Brazil for its announcement that it will break ...