Loan of up to R$1,000 for Bolsa Família beneficiaries
Brazilians who receive Bolsa Família will soon have access to an extra amount.
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The Federal Government has been evaluating the possibility of releasing a microcredit of R$ 500.00 to R$ 1,000.00 for program beneficiaries who meet the established requirements, in order to offer financial support to this group starting next year, after the end of the emergency aid payment.
The credit line will be made available through the Caixa Tem application, which was created to facilitate the transfer of aid of R$ 600.00 and R$ 300.00.
However, to date, the government has not yet established whether the resources for microcredit will be financed through federal budgetary resources or by Caixa itself.
As for Bolsa Família, in addition to loans, the government is still studying new measures to increase the value of the benefit and the population assisted by the program starting in 2021.
These include the payment of childcare assistance in the amount of R$ 52.00 per month and prizes of up to R$ 1,000.00 for public school students who excel in science and technology and sporting events.
Microcredit for Bolsa Família recipients
Recently, Caixa Econômica Federal president Pedro Guimarães stated that the state-owned company intends to maintain Caixa Tem even after the end of emergency aid, transforming the app into a digital bank. To achieve this, Caixa will likely launch an initial public offering.
With this change, Caixa will be able to offer new products and services, including credit cards and microcredit. In this case, account holders will be able to take out loans of up to R$1,000.00.
Initially, Caixa's budget for microcredit will be approximately R$1.4 billion. If this amount is withdrawn from federal coffers, a new fund will need to be structured, similar to the government's approach to creating the National Program to Support Micro and Small Businesses (Pronampe).
