Brazil Government To Inject BRL100 Billion In BNDES -Report - WSJ.com

SAO PAULO (Dow Jones)--The Brazilian government will inject another 100 billion Brazilian reals ($58 billion) into the state-controlled Brazilian Development Bank, or BNDES, Brazilian President Luiz Inacio Lula da Silva said in a exclusive interview published Friday by local newspaper Valor Economico.

The capital injection will be used by the BNDES to increase its lending to domestic companies, especialy for long-term investments projects.

Earlier this year, the government injected BRL100 billion into the BNDES for short- and long-term lending to companies.

-By Rogerio Jelmayer,

NOVEMBER 6, 2009, 6:10 A.M. ET

Brazil Government To Inject BRL100 Billion In BNDES -Report - WSJ.com