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Lula Creates Council to Fast-Track R$18.5 Billion BNDES Credit for Tariff-Hit Industries

President Lula established a new council to expedite R$18.5 billion in subsidized BNDES financing for sectors including steel and auto, facing US tariffs.

By Eleanor Shaw

Published Aug 6, 2026, 11:51 AM UTC

Lula Creates Council to Fast-Track R$18.5 Billion BNDES Credit for Tariff-Hit Industries — Wilfredor / Wikimedia Commons (CC0)

President Lula established a new council to expedite R$18.5 billion in subsidized BNDES financing for sectors including steel and auto, facing US tariffs.

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