The Brazilian Bank for Economic and Social Development (BNDES) will transfer R$ 30 billion (US$ 9.25 billion) to the federal government by April 2 to repay for a Brazilian Treasury loan. It will be the first of two installments that will total R$ 130 billion.
The remaining R$ 100 billion will be disbursed at the beginning of the second half of 2018, if the recovery of the Brazilian economy is confirmed in the first half of the year, the bank said.
In a statement, BNDES stresses that in the last three years it has already anticipated three payments to the federal government – one of R$ 30 billion in 2015
“In the last 11 years, the BNDES has also transfered to the Treasury, due to the dividends paid and several taxes collected, other R$ 100 billion, being R$ 172 billion (in current values),” the bank noted.