Crédito Brasil Criativo to allocate $ 408 million reais for the cultural sector

The Creative Brazil loan program will provide $ 408 million reais in lines of credit for the cultural events sector, according to information released by the Special Secretariat for Culture (Secult). RedeTV!, a partner of the TV BRICS network, reports.

Creative Brazil Credit deploys the National Endowment Fund for Culture (FNC) resources to fund cultural endeavors of individuals and companies. Loan agreements are concluded by interested parties in financial institutions accredited by the Special Secretariat for Culture.

The provision of loans at the expense of FNC funds is available to creative or artistic entrepreneurs who run some economic activities related to the cultural sector.

According to Mario Frias, Special Secretary for Culture, the creative economy makes up almost 4.5% of the national economy. “We know that the economy is life, a place where we create the material means for our survival,” Frias stated.

According to the Special Secretariat, the culture and entertainment sector includes 60,000 companies across the country, provides about 2 million direct and indirect jobs, and mobilizes 4 million informal workers.

This sector also accounts for 4.32 of the gross domestic product (GDP), which is the sum of the wealth produced in the country and generates 48 billion reais per year.