The Brazilian government is negotiating an investment of around US$1 billion in the Andean Development Corporation which would make it a fully-fledged member of the development bank, Brazilian Planning Minister Paulo Bernardo said yesterday.
Bernardo said in Guatemala City that he already has the go-ahead from President Luiz Inacio Lula da Silva to proceed with the operation.
"We are in a phase of negotiations to become a full-fledged member of the CAF," he said.
The negotiation came as Brazil evaluates its participation in regional development banks.
The South American country is also looking to resolve problems at the Financial Fund for the Development of the River Plate Basin (FONPLATA) and may join the Bank of the South.
