Brazil’s BNDES Lends US$ 10 Billion in 7 Months, Less than Half of 2005 Budget

The Brazilian Development Bank (BNDES) loaned 24.5 billion reais (equivalent to US$ 10.3 billion in current values) between January and July this year.

According to information released Monday, August 15, by the bank, the value is 16% greater than that registered in the same period in 2004.

Having passed seven months since the beginning of the year, the bank still hasn’t carried out half of the budget forecasted for 2005, of R$ 60 billion reais (US$ 25.2 billion).

According to information from the bank, the sectors that influenced the performance the most up until now were the industry, that received 11.7 billion reais (US$ 4.9 billion), or 39% more than in the same period in 2004, and infrastructure, where loans reached 8.8 billion reais (US$ 3.7 billion), an increase in 19% in comparison to the first seven months last year.

Financings for exports added up to US$ 2.7 billion, or 34% more than in the same period last year.

The micro, small and medium-sized companies got 30% of the total loaned by the bank between January and July, or 7.2 billion reais (US$ 3 billion) an increase in 7% in relation to the same period in 2004.



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