May 14, 2020 / 8:08 PM / 22 days ago

Brazil weighs $2 bln in coronavirus relief loans to power sector -sources

RIO DE JANEIRO/SAO PAULO, May 14 (Reuters) - Brazil’s government is considering 12 billion reais ($2.06 billion) in emergency loans to power utilities to relieve a financial crunch brought on by the new coronavirus pandemic, three people with knowledge of the matter told Reuters.

The loans would be repaid over a period of 60 months, the sources said. Half of the interest costs will be taken on by the utilities while the rest will be passed to customers, one of the people said.

$1 = 5.8127 reais Reporting by Rodrigo Viga Gaier and Luciano Costa; Writing by Jake Spring; Editing by Chris Reese

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