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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Investment

Brazil’s BNDES seeking stake of sovereign-wealth fund

Posted on 30 October 2012

Brazil’s national development bank BNDES is in talks with the government to take a stake in the country’s sovereign-wealth fund in order to increase lending volumes next year.The BNDES, which has gotten numerous injections of cash from Brazil’s treasury, is seeking the sovereign-wealth fund stake as a way to increase its asset base, which would in turn allow it to loan more to state-controlled companies, Estado said.
The bank can only lend up to 25% of the value of its regulatory capital, currently at about 94 billion Brazilian reais ($46 billion), to a single company, and has already reached that limit in lending to some oil, mining and electric companies, Estado said………………………………………..Full Article: Source


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