IBD announces plan to lend $1bn to BNDES in 2004
Bnamericas Published: Thursday, November 13, 2003
The Inter-American Development Bank (IDB) intends to lend $1 billion to the Brazilian Development Bank ( BNDES) in 2004, according to IDB president Henrique Iglesias, speaking Thursday. This money will be lent so that the BNDES can pass it along in loans to small and medium-sized businesses and possibly thereafter to machine and equipment import/export. The Brazilian government has authorized the BNDES to negotiate with the IBD, but the loan still has to be approved by the Brazilian Senate. by Adriana Chiarini
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