BNDES cannot fund Brazil companies alone, incoming minister says

lunes 1 de diciembre de 2014 15:05 GYT
 

SAO PAULO Dec 1 (Reuters) - Brazil's state development bank BNDES cannot carry the burden of financing companies and investment in the country alone, the country's incoming development and trade minister said on Monday.

Part of that burden should fall upon capital markets, said Armando Monteiro Neto, who was nominated as the next development and trade minister during President Dilma Rousseff's second term in office. Rousseff's second term starts in January. So far there is no decision about additional funding for the BNDES coming from the National Treasury, Monetiro Neto said.

BNDES is considered Brazil's main source of long-term corporate financing. (Reporting by Guillermo Parra-Bernal; Editing by Chizu Nomiyama)