Brazil’s Banco Nacional de Desenvolvimento Econômico e Social (BNDES) or the National Bank for Economic and Social Development has approved a loan of USD1.38 billion for Xingu Rio Transmissora de Energia (XRTE)—a fully-owned subsidiary of State Grid Corporation of China (SGCC)—for the construction of the second high voltage direct current (HVDC) power transmission system to connect the hydropower dam of Belo Monte in the northern state of Para to Rio de Janeiro in Southeast Brazil.

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