Rio, May 13, 2004 (Agência Brasil) - The financial backing provided by the Brazilian National Economic and Social Development (BNDES) for infrastructure projects in Argentina may exceed the US$ 1 billion specified in the understanding signed last year by the governments of the two countries.

This question will be considered today and tomorrow (14) in the auditorium at BNDES headquarters in Rio de Janeiro, during the seminar "Latin American Integration: First Brazil-Argentina Encounter," where the participation of Brazilian companies in the implementation of these projects will also be discussed, according to the president of the bank, Carlos Lessa. The Argentinean Minister of Federal Planning, Public Investment, and Services, Julio Miguel de Vida, will also participate in the seminar.

According to the BNDES's presidential advisory staff, it is expected that the initial projects to receive credit from the institution in the areas of highways, railways, general transportation, and energy will be defined. Brazilian companies will demonstrate their experiences in the South American market, emphasizing the potential of the bilateral partnership.

The BNDES and representatives of the Argentinean Investment and Foreign Trade Bank (BICE) and the Argentinean National Bank (BNA) will debate the possibilities for providing credit to back the projects, commencing the implementation of the Cooperation Benchmark Agreement signed by the 3 institutions, the advisory staff informed.

Translator: David Silberstein