Brazil state-run bank to loan automakers $853 mln

Newswire

SAO PAULO, Brazil, Oct 31 (Reuters) - Brazil's development bank BNDES on Monday said it will provide an $853 million credit line to help automakers like Volkswagen AG , Ford Motor Co. , General Motors Corp. and Fiat SpA boost exports. The lender said the loans would help the companies make $2.8 billion in sales. Automakers have been asking the state-owned bank for months to help offset the impact of a four-year high in the local currency, the real . Vehicle makers say the stronger ...

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