EFC will R $1 billion in stimulus to retail sector

The CEF (Caixa Econômica Federal) announced on Thursday (17/8) that will R $1 billion in resources for the retail segment in Brazil through an agreement with the CNDL (Confederación Nacional de Dirigentes Lojistas).
"The actions occur within the scope of the program Progresses and also provide Retail" working capital lines, revolving credit, investment and financing, with longer deadlines and differentiated interest rates ", said the box, in press release.
According to the State-owned bank, 450,000 retailers affiliated to the CNDL will be hit by the partnership, impacting more than 1 million commercial establishments of small, medium and large companies throughout Brazil.
In another attempt to stimulate retail, President Michel Temer signed Decree recognising the supermarkets as essential activity for the economy, allowing them access to legal instruments to negotiate the opening of shops during Sundays and holidays-something which before was going on only through agreements.