Brazil to inject less capital into BNDES next year, Mantega says

Reuters

SAO PAULO, Oct 14 (Reuters) - Brazil's National Treasurywill inject less money into state development lender BNDES next year, in a plan that will allow the country'stop source of long-term corporate loans to focus more oninfrastructure financing, Finance Minister Guido Mantega said onMonday.

The Treasury has a target of phasing out annual capitalinjections into the BNDES "within a few years," Mantega said ata news conference in São Paulo. In addition, both the Treasuryand the BNDES will slow lending to states, which might have totap private-sector and state-run commercial lenders other thanthe BNDES for new financing, he added.

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