June 20, 2014 / 7:31 PM / in 4 years

Brazil to inject capital into BNDES in one installment -sources

BRASILIA, June 20 (Reuters) - The Brazilian government plans to inject 30 billion reais ($13.5 billion) into state development bank BNDES in a single installment, two sources with direct knowledge of the situation told Reuters on Friday.

The capital injection will take place soon, said the sources, who requested anonymity because the decision has not been made public. Last month, the government approved the transfer of up to 24 billion reais to BNDES in the form of government bonds, a move needed to allow Brazil’s main source of long-term corporate credit to extend more loans for this year.

$1 = 2.23 Brazilian reais Reporting by Luciana Otoni; Writing by Guillermo Parra-Bernal; Editing by Bernard Orr

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