Industry Gets Lion Share of Brazil’s Development Bank

The Brazilian Development Bank (BNDES) spent US$ 3.7 billion in loans in the first quarter of this year. The value, according to information disclosed yesterday by the bank, is 10% greater than that registered in the same period in 2004.

The BNDES has a budget of US$ 23.44 billion for financing in 2005. The performance until now, according to the bank, was driven mainly by the loans to the industry and the infrastructure sector.


In the first case, the financings added up to US$ 1.88 billion in the first three months of the year, an increase in 12% in comparison to the same period in 2004. In the case of the infrastructure area, the loans reached US$ 1.13 billion, or 49% more than in the first quarter last year.


In the bank’s evaluation, the increase in spendings with micro, small and medium sized companies were also expressive, adding up to US$ 1.17 billion, with an increase of 11% in relation to the first three months of 2004. The companies of the sort that received most of the loans were exactly the ones related to the infrastructure area.


“The increase in loans for the smaller companies is a priority in harmony with the federal government’s policies for motivation of the segment, known for its great capacity of generating jobs,” says the statement issued by the BNDES.


The financings for exports, in turn, added up to US$ 1.1 billion. There was a drop in 6% in comparison to the first quarter last year.


There was, however, an increase in 38% in loans to the transport materials exporting sector (automotive vehicles, vessels, railway equipment and aircrafts), which reached US$ 899 million.


ANBA – Brazil-Arab News Agency
www.anba.com.br

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