Brazil allocated BRL 409 million for telecommunication projects | Instant News

Brazil’s Ministry of Communications will allocate BRL 409 million, through the Fund for Telecommunication Technology Development (Funttel), for the development and expansion of IoT technology in agriculture, transportation, health, security and 5G internet services.

Financing will be carried out in partnership with the National Bank for Economic and Social Development (BNDES) and Study and Project Financiers (Finep), allowing SMEs to access credit for technology system acquisition to enhance their business.

BRL 409 million will fund around 17 projects, over a period of 36 months, with a funding limit of up to BRL 30 million per beneficiary every 24 months.

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