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Brazil's state-run bank okays airport expansion loans

Brazil's state-run development bank said Tuesday it approved two loans worth 4.27 billion reais ($1.84 billion) to fund modernization of airports in Sao Paulo and Brasilia ahead of the World Cup and Olympics.

A 3.48 billion-reais ($1.5 billion) loan will go to Sao Paulo's Guarulhos airport, the country's biggest, including $517 billion to cover a bridging loan granted in October 2012, BNDES said.

The two airports were privatized by the government in February 2012, with a consortium including a South African airport operator winning the concession for Guarulhos while the Infraamerica consortium was granted the concession for Brasilia.

The auctions were part of the government's efforts to expand and modernize the country's aging and congested airports in preparation for the tens of thousands of tourists expected for next year's World Cup and the 2016 Rio Olympics.

by Danny KEMP © 2013 AFP

Source : AFP

Published on ASDNews: Dec 17, 2013


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