May 20, 2021 |
Uruguay's state-owned oil company Ancap has asked the government for authorization to take out a $40 million loan and possibly one or more contingency lines of credit to help cover rising oil and petroleum product costs while its product prices remain frozen, according to a local media report on Wednesday.
Ancap's board of directors wants to borrow the money from Banco República, a state bank, El Observador newspaper reported.
Ancap did not respond to a request for more information.
Uruguayan state-owned company wants a $40 mln loan and possibly credit lines from Banco República