Brazil issues decree to inject 3.5 bln reais at Eletrobras

June 23, 2016 1:29 PM

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BRASILIA, June 23 Brazil's government on Thursday issued a decree formalizing the transfer of up to 3.5 billion reais ($1.05 billion) in federal funds by 2017 to state-run electricity holding company Centrais Eletricas Brasileiras SA, known as Eletrobras.

The decree is effective immediately but requires Congress' approval. It also strips Eletrobras of the management of the RGR fund for rural electrification and the CDE power subsidy funds, starting next year.

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