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Brazil's Meirelles sees Rio ready to receive loans within 30 days
September 5, 2017 / 4:22 PM / in 2 months

Brazil's Meirelles sees Rio ready to receive loans within 30 days

BRASILIA, Sept 5 (Reuters) - The cash-strapped state of Rio de Janeiro should start receiving bank loans within 30 days under a financial rescue program signed on Tuesday with Brazil’s federal government, Finance Minister Henrique Meirelles said.

State lender Banco Nacional de Desenvolvimento Econômico e Social SA (BNDES) will coordinate the bank loans, Meirelles said. The plan includes a three-year reprieve for the state on servicing loans from the federal government as well as measures to increase revenues and cut spending. (Reporting by Silvio Cascione)

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