Brazil Approves $7.3 Billion of Loans for BNDES, Estado Says

Brazil’s government made a 15 billion reais ($7.3 billion) loan to BNDES, the nation’s public development bank, O Estado de S. Paulo newspaper reported today.

The loan is the last tranche of 45 billion reais of lending in 2012 from the government to the public bank, which is expected to use the money to increase credit for new investments, the newspaper said.

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