December 9, 2016 / 5:40 PM / 2 years ago

Brazil's BNDES sets tougher governance requirements for airport financing

SAO PAULO, Dec 9 (Reuters) - The Brazilian government will extend subsidized credit to companies interested in bidding for airport operating licenses so long as they agree to strict governance requirements and to hire an independent advisor to monitor project execution.

State development bank BNDES said in a statement that the terms were part of new policies aimed at boosting transparency for the government’s upcoming infrastructure investment plan.

BNDES could provide up to 40 percent of the debt portion of airport licensing projects at a below-market interest rate known as TJLP, the statement said. (Reporting by Guillermo Parra-Bernal)

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