Brazil Offers Zero Interest Loan, But Red Tape Makes It Hard to Get Money.

    Brazil’s Ministry of Cities has US$ 154 million in this year’s budget to offer in the form of a line of housing credit for projects that qualify for the Solidary Credit Program, created to serve segments of the low-income population organized in cooperatives and associations.

    The ministry’s projects manager, César Ramos, informed that the interest-free loans will mainly be approved for the country’s North and Northeast regions, where the housing deficit is greatest.

    "Nearly 35% of the country’s housing deficit, for example, is concentrated in the Northeast. It is important for resources to be invested in the Northeast in the same proportion," Ramos explains.

    He points out that the loans can be used for housing construction, property legalization, or the purchase of construction materials. "The line of credit is intended for individuals who earn up to three minimum wages (US$ 397)."

    The Solidary Credit Program is meant solely for individuals organized in associations, cooperatives, or other non-profit groups, even though the loans are personal

    The Ministry of Cites plans to hold various regional training seminars to expedite the formulation of projects. Last year most of the money was not used because people were not able to create the projects they were supposed to.

    Agência Brasil

    Tags:

    • Show Comments (2)

    • Bad Credit Loan

      Agree
      I simply have to agree with the previous poster. The Brazilian government isn’t know to be all that transparent and as such any money made free will probably never see itself to the general public, rather to the ultra rich people that control the government and the industries.

      [url]http://www.creditrelease.com[/url]

    • Guest

      Red tape ? Red tape ?
      Is there red tape in Brazil ?

      Smile…

      No doubt that money flows much faster into the hands of corrupted politicians and civil servants, than money “SUPPOSED” to go for housing credits for the low income population.

    Your email address will not be published. Required fields are marked *

    comment *

    • name *

    • email *

    • website *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Ads

    You May Also Like

    Brazilian exports

    Iran Trade with Latin America Jumps Over 200%. Brazil Is Number 1 Partner

    With Brazil as its first partner in the region Iran had a threefold increase ...

    Bribe Scheme Might Derail Brazil’s Soccer Season

    The edition of Brazilian weekly magazine, which is out today, brings serious charges about ...

    LETTERS

    Close to 19 million adult Brazilians have become tired of waiting for government help ...

    Brazil’s Outlook Upgraded from Stable to Positive by Fitch

    Brazil's long-term foreign and local sovereign Issuer Default Ratings outlook has been upgraded, today, ...

    Brazilian farm

    Brazil Presented to the World by UN as Green Economy Model

    UN secretary general, Ban Ki-moon, said that Brazil is an example of "green economy" ...

    Brazilian slave workers

    Brazil’s New List of Employers Using Slaves Is Out. There Are 175 Names

    The Brazilian Public Defense has released a new listing of employers involved in slave ...

    Brazil, Listen to the Calles!

    Ever since their military regimes ended, Latin American countries have seen the calles, the ...

    Brazil: Here, Vice-Presidents Count

    The vice-presidency has helped shape Brazil’s history. In 1992, Vice-President Itamar Franco rose to ...