Brazil offers cheap loans for delivery drivers to buy bikes

Delivery workers in Brazil can now get easier loans to buy motorcycles. The government wants to help people who deliver food or packages for apps. They can borrow money at lower interest rates than usual. Women get 11. 5% per year, while men pay 12. 5%. Normally, loans in Brazil cost a lot more—around 14. 5%. Big banks like Caixa and Banco do Brasil will handle the loans, and the government will cover some risks if people can’t pay back. To qualify, drivers must have worked on an app for at least six months and completed at least 100 trips. Cyclists, motorcycle couriers, and taxi drivers with steady jobs can also apply. The loans come with a two-month break before payments start, and people have up to four years to pay them back. The government didn’t say how much money is available yet.This isn’t the first time Brazil has tried to help workers with loans. Earlier this year, they introduced programs to help people with debt and encourage more truck and ride-hailing purchases. These moves might be about boosting the economy before elections, not just helping workers. Electric bikes and motorcycles made in Brazil are included in the deal. The government hopes this will push people to buy local products while making delivery jobs easier to do. Whether this will really help drivers or just make banks richer is still unclear.