Brazil to inject less capital into BNDES next year, Mantega says
SAO PAULO Oct 14 (Reuters) - Brazil's National Treasury will inject less money into state development lender BNDES next year, in a plan that will allow the country's top source of long-term corporate loans to focus more on infrastructure financing, Finance Minister Guido Mantega said on Monday.
The Treasury has a target of phasing out annual capital injections into the BNDES "within a few years," Mantega said at a news conference in São Paulo. In addition, both the Treasury and the BNDES will slow lending to states, which might have to tap private-sector and state-run commercial lenders other than the BNDES for new financing, he added.
- Islamic State threat 'beyond anything we've seen': Pentagon
- Oklahoma City policeman arrested for raping women while on patrol
- Exclusive: Apple iPhone 6 screen snag leaves supply chain scrambling |
- U.S. says Russia must pull convoy from Ukraine or face more sanctions |
- Islamic State threat 'beyond anything we've seen': Pentagon |