October 20, 2016 / 6:57 PM / 2 years ago

CORRECTED-BNDES to focus on infrastructure, repay debts with Brazil

(Corrects spelling of BNDES in paragraph 1)

RIO DE JANEIRO, Oct 20 (Reuters) - Brazil’s state development bank, BNDE, plans to soon announce the pillars of a new policy on disbursements, with a newfound focus on funding for infrastructure and smaller companies at market-based interest rates, a senior executive said on Thursday.

BNDES has been practically Brazil’s sole source of corporate credit since it was founded in 1952. The lender is preparing to repay the federal government by 2018 about 100 billion reais ($32 billion) it received in the form of capital injections over the past seven years, said Fabio Giambiagi, the bank’s head of research and planning.

Giambiagi spoke at an event in Rio de Janeiro.

$1 = 3.1398 reais Reporting by Rodrigo Viga Gaier; Editing by Steve Orlofsky; Writing and additional reporting by Guillermo Parra-Bernal

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