Business News Americas

Brazil's securities regulator CVM has approved the creation of an infrastructure fund with resources from the federal workers' unemployment insurance fund (FGTS), CVM reported on its website.

The fund, now called FI-FGTS, was created as part of the federal government growth acceleration program PAC and may have as much as 5bn reais (US$2.69bn) from FGTS to be invested in energy, sanitation and transport infrastructure.

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Posted by dcjaya at November 28, 2007 4:05 AM