BNDES will finance the construction and renovation of stadiums and hotels with 5.8bn reais (US$3.3bn) so Brazil is ready for the 2014 World Cup.
The loans will be made through two programs called BNDES ProCopa Arenas and BNDES ProCopa Turismo.
Interest on the loans, which will be as long as 15 years, will be the TJLP rate, presently at 6% per year, plus 0.9% administration fee. Indirect loans will be levied a 0.5% fee.
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