TOKYO, May 27: Japan and Brazil signed an agreement on Friday for Tokyo to lend $500 million to the South American nation to develop infrastructure with an eye to helping Japanese investors.
Brazilian President Luiz Inacio Lula da Silva, on a visit to Japan, attended the signing between the Japan Bank for International Cooperation and Brazil’s official Banco Nacional de Desenvolmiento Economico e Social.
The Japanese bank, which offers low-interest loans as part of Japan’s development assistance, said in a statement that the loan was meant to “finance domestic infrastructure development projects as well as capital investments by Brazilian exporters.”—AFP
