Brazil: BNDES, CAF enter financing agreement
Publication: SABI - Business News
Provider: South American Business Information
The Brazilian development BNDES and the Andean funding corporation CAF (Corporacion Andina de Fomento) have decided to coordinate financing for infrastructure works in South America, what could enlarge the funding sources for Brazilian companies in the region. Details of an agreement are to be released in November, with CAF raising guarantees to BNDES loans in the Andean region lifting available resources by around US$1bil. BNDES would also double its current US$100mil share in CAF`s capital, equalling its position with the founding partners of CAF, namely, Peru, Colombia, Venezuela, Bolivia and Ecuador.