After returning from a trip to Bangladesh, the president of Caixa Econômica Federal, Pedro Guimarães, presented new project ideas, along with the launch of a national microcredit through Caixa Tem. In an interview, he highlighted some information about the new modality. Check now what they are and what Caixa's plans are for this year. Keep reading!
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About microcredit
During the interview, Pedro Guimarães spoke about the criticism that circulated about the Caixa Tem credit program. Since, some people claim that this may end up increasing the population's indebtedness. However, according to the president of Caixa, people already take credit at much higher rates (from 15% to 20%) on a daily basis.
The executive's idea is to continue with the trajectory of microcredit in our country, also making an approximation with agribusiness. In countries like Bangladesh, for example, interest rates run weekly, around 25% per year, for an inflation rate of around 5% per year. Thus, they manage to have an interest rate considered low, and there is pressure to reduce it. This pressure is given by competition, because there are more than 20 banks focused on microbusiness.
Finally, Guimarães stated that he is also thinking of bringing a line of credit to small entrepreneurs in Brazil. At the present time, Caixa already has an agricultural credit program, but microcredit would be aimed at a portion of the Brazilian population below the Pronaf, which already works today.
How does this system work?
This has been done for 50 years, so the first point is that they didn't start with this modality now, since it's a decades-long process. The biggest loan, according to Guimarães, was for 550,000 local coins, which comes to about R$35,000, and the smallest, which was still pending approval, was for 10,000 local coins.
That is, it works in such a way that as you pay, you will have a greater volume of credit. This is very important, because those who manage to pay well can have a larger volume and those who cannot pay, leave. It works like a selection process, from which those who are paid on time continue in the program.
