July 28, 2016 / 9:27 PM / in a year

Brazil raises infrastructure financing for Olympics

BRASILIA (Reuters) - Brazil’s National Monetary Council, known as CMN, said on Thursday it changed regulation to raise the limits of financing to infrastructure projects linked to the Olympics and Paralympics in Rio de Janeiro.

A woman rides her bicycle as she passes over a newly-painted bicyle lane ahead of the Rio 2016 Olympic games near Barra da Tijuca beach in Rio de Janeiro, Brazil, July 27, 2016. REUTERS/Sergio Moraes

In a statement, the CMN, the country’s highest economic policy body, said it authorized up to 5.4 billion reais in credit for projects related to the Olympics through the state development bank BNDES. The statement did not say what the previous limit was.

Reporting by Alonso Soto; Editing by Daniel Flynn

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