Banco Nacional de Desenvolvimento Econômico e Social's board approved the early repayment of 100 billion Brazilian reais in loans owed to the National Treasury, O Estado de S. Paulo reported.

The amount, which was injected in the state-run development bank between 2009 and 2014, should be returned to the government by year-end, the publication said.

BNDES had initially planned to pay the debt in three annual installments by 2018, but changed its plans after receiving the approval for early repayment from Brazil's federal audit court in late November, the Dec. 9 report noted.

BNDES didn't immediately respond to S&P Global Market Intelligence's request for comment.

As of Dec. 9, US$1 was equivalent to 3.36 Brazilian reais.