February 22, 2013 / 12:46 PM / 5 years ago

Brazil to provide new funds for infrastructure finance -papers

SAO PAULO, Feb 22 (Reuters) - Brazil will give private-sector banks more direct access to government-subsidized loans destined for infrastructure projects, newspapers said on Friday, as the country seeks 250 billion reais ($127 billion) in road, rail and port investments.

Finance Minister Guido Mantega will announce the new funding options in New York next week as part of a road show for a wave of government concessions, Folha de S.Paulo reported without saying how it obtained the information.

The financing mechanism may cut out state development bank BNDES, which has traditionally passed government funds to other banks at a higher cost or spread. New funds for infrastructure investments could come from the compulsory deposits currently held by the central bank, Estado de S.Paulo reported, citing an unnamed member of the government’s economic team.

A finance ministry spokeswoman declined to comment on the reports.

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