SAO PAULO, July 21 (Reuters) - Banco Santander Brasil SA said on Tuesday it has launched a 5 billion reais ($963.58 million) credit line for new investments in the water and sewage sectors.
Santander Brasil’s move comes as a new law passed in June is expected to prompt states and municipalities to privatize water and sewage companies and to universalize services in Brazil. This will require roughly 600 billion reais in investments in the coming years.
$1 = 5.1890 reais Reporting by Carolina Mandl Editing by Chris Reese
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