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The head of Spain's Santander group, Ana Botín, has told Brazil's President Dilma Rousseff that Banco Santander will open up a US$10bn credit line for infrastructure projects in the South American country.
"Brazil is strategic for the Santander group. This year alone, we have invested well over US$4bn and we will continue to invest as we have full confidence in the development of the country," local daily Valor Econômico reported Botín as saying.
The executive also reaffirmed the group's interest in supporting small and medium business.
"Small and medium businesses are fundamental to the social and economic development of the country as they generate employment and income. As such, we want to be increasingly closer to them," Botín said.