Macroeconomy/Finance

Private banks will have a 70% loan of up to $3.1 bn to help energy distributors in Brazil

Private banks will have 70% of the so-called “Conta-Covid”, a financing package of up to R$16.4 billion ($3.1 bn) made possible with government support to help the energy distributors’ cash during the pandemic. The National Bank for Economic and Social Development (BNDES) and public banks will enter with about R$5 billion ($944 mm) in the operation, which ended up with costs higher than expected by the sector.

Source: Reuters

Categories: Macroeconomy/Finance