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CEO: BNDES to pull back on infrastructure funding

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CEO: BNDES to pull back on infrastructure funding

Banco Nacionalde Desenvolvimento Econômico e Social CEO Maria Silvia Bastos Marquessaid the state-run bank is reviewing its financing plans for infrastructure projectsas there may be better funding sources available, Reuters reported.

Marques urged the capital market to contribute more to Brazil'sinfrastructure projects to compensate for a possible reduction in BNDES' lendingparticipation, the report said.

In June, the executive announced a task force to analyze BNDES' infrastructure loan applicationsunder a logistic investment program known as PIL.