Brazilian President Luiz Inacio Lula da Silva on Thursday launched an ambitious program to stimulate the development of digital TV in the country.

Under the Program of Support and Implementation of the Brazilian Terrestrial Digital TV System (ProTVD), 1 billion reais (480 million U.S. dollars) will be laid aside for the opening of credit lines for TV companies.

State-owned National Bank of Economic and Social Development (BNDES), provider of the credit lines, said that ProTVD is aimed at supporting research and development, and the modernization of the infra-structure and the production of software, equipment and new digital content.

BNDES also said that the program is expected to stimulate investment in local audiovisual projects and contribute to the development of companies specializing in providing solutions to the terrestrial digital TV system.

Source: Xinhua