Brasília - Minister of Development, Industry and Foreign Trade, Luiz Fernando Furlan, says that the government is studying the possibility of the Development Bank (Banco Nacional de Desenvolvimento Econômico e Social) (BNDES) financing the automobile sector not only in Brazil but in all of the Mercosur economic block.

Furlan and Minister of Finance, Antonio Palocci, discussed the matter recently with Argentine minister of Economy, Roberto Lavagna. "Today BNDES rules permit financing only for domestic businesses. We are thinking about financing for Mercosur," declared Furlan, adding that such financing could bolster what he called 'Mercosur products.'"

Agência Brasil
Reporter: Daniel Lima
Translator: Allen Bennett
09/09/2004