ANNOUNCED AS TEMPORARYNo
On 23 July 2013, the Brazilian Development Bank (BNDES) announced that they are going to support a transportation program in the metropolitan area of Rio de Janeiro with a loan of BRL 1.6billion financing 30 trains of domestic production. The contract has been finalized between the federal state of Rio de Janeiro and the transportation company SuperVia including an investment amounting BRL 3.3billion for a period of 23 years, i.e., expiring in 2023.
In general, the Brazilian Development Bank provides credits with below-market interest rates to legal persons (private or public) with headquarters and administrations in Brazil.In the case of companies with headquarters abroad, majorityshareholders (private or public) need to have residence in Brazil. Besides this, the bank imposes local content requirementson goods (mainly capital goods), services and software. However, itmakes exceptions when there is no national production of those goods.
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