Thursday, March 17, 2011

U.S. Export Bank to Lend $1 Billion for Brazil Oil Projects, Valor Reports

The U.S. Export-Import Bank plans to provide a loan of $1 billion for deep-water oil exploration in Brazil, the Valor newspaper reported, without saying where it got the information. 

The bank will also help finance Brazilian infrastructure projects for the 2014 World Cup and 2016 Olympics, the Sao Paulo-based newspaper said today. The bank plans to announce the loans during President Barack Obama’s visit to Brazil this week. 

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