BNDES freeing up USD693 million for telecoms projects

1 Aug 2005

Brazil’s Development Bank BNDES says it plans to release BRL1.67 billion (USD693 million) to support telecoms projects in the country this year. The government-run bank financed BRL1.59 billion for similar projects in 2004, following a dip in lending to BRL420 million and BRL350 million in 2002 and 2003 respectively.