BNDES approves loan for TIM

27 Sep 2005

Brazil’s National Development Bank (BNDES) has approved a BRL48.9 million (USD21.7 million) loan for TIM Brasil, which will be used for the development of a new IT unit in Sao Paulo state. The cellco claims that the new unit, which is set to begin operations in 2007, will create 1,544 jobs.

Brazil, TIM Brasil