Bank of China loans R$ 6,310,000 for the Belo Monte Transmissora de Energia S.A [#59898 and #59891]

Bank of China loans R$ 6,310,000 for the Belo Monte Transmissora de Energia S.A [#59898 and #59891] In 2016, the Bank of China loaned for 6,125,000 Brazilian Reals to Eletronorte (an electricity a generation and transmission subsidiary of Eletrobras) for the Belo Monte Transmissora de Energia S.A., which is a special purpose vehicle created to construct transmissions lines from the Belo Monte dam on the Xingu River in the state of Para.

According to the SEC, the disbursed amount was 6,310,000 Brazilian Reals. The transaction amount has been recorded as such. Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.