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BNDES clears US$65mn loan to Celesc

Bnamericas Published: Monday, April 25, 2005
Brazil's national development BNDES has approved a 163mn-real (US$65mn) loan to Santa Catarina state power utility Celesc, according to a company official. The funds will be used to cover "short-term" financial obligations, Celesc finance director Osvaldo Mendes said. These include a 32mn-real debt with Brazil's power sector holding company Eletrobrás. Mendes said Celesc should receive 91.1mn reais from BNDES by Friday.

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