Brasília, 12/4/2003 (Agência Brasil - ABr) - On the eve of his trip to the Middle East, president Luiz Inácio Lula da Silva got some good news from the Brazilian Development Bank (Banco Nacional de Desenvolvimento Econômico e Social) (BNDES): it will release funds for South American integration projects.

The bank announced three projects. First, US$125 million for the purchase of turbines for hydroelectric power plants in Venezuela. Second, US$19 million for repairs at two hydroelectric power plants in Ecuador. Third, US$500 million for the construction of a drilling platform (the P-54) for Brazilian oil company, Petrobras, which will make it possible for 65% of the work to be through domestic suppliers and contractors.

"South American integration is one of the principal priorities of the Lula administration," said presidential spokesman, Andre Singer, adding that Lula was very please with the announcement. (AB)