Brazil’s BNDES Lends US$ 11.5 Bi. Still 62% Get No Money.

The volume of funds that the Brazilian Development Bank (BNDES) made available in the first 10 months of this year was 45% greater than that in the same period last year.

Up to October, the loans had totalled US$ 11.5 billion (in current figures).


A large part of this credit was destined to the financing of exports, to the purchase of machinery, to work on infrastructure, and to agricultural investment.


The funds made available for export rose 43% in the period and reached US$ 2.7 billion.


Among the sectors that presented the greatest increase in credit for sales outside the country were civil construction, with 87% greater funds, and the auto sector, with 200%.


The civil construction sector received US$ 207 million and the vehicle sector US$ 560 million.


The liberation of funds for the financing of the purchase of new machinery and industrial equipment, made in Brazil, rose 22.19% between January and October.


The BNDES turned around US$ 1.9 billion to this kind of operation. Among the funds made available for the agricultural sector, the purchase of machinery answered to 90% of the total.


In all, the bank made US$ 2.02 billion available for Brazilian agriculture and livestock.


The infrastructure sector was the one that had the largest increase in funds.


Up to the tenth month of the year, the financial institution had made a total of US$ 4.01 billion available for investment in the sector, 94% growth (or almost US$ 2 billion more) when compared to the funds invested in the same months last year.


Industry received US$ 4.08 billion, 26% more than last year.


Small and medium companies are also receiving greater funds from the BNDES, according to a statement published by the institution. Around US$ 3.6 billion, or 31.7% of the funds made available, were turned to companies this size. The growth was 29%.


Despite the large volume of funds made available, requests totalled US$ 30.4 billion, meaning that 62% of the requests could not be answered.


ANBA ”“ Brazil-Arab News Agency

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazilians Who Believe in Change Should Be Happy for the Bearers of Utopias

It appears that the presidential candidates for the second round of elections in 2010 ...

Brazil Joins US Company to Service Brazilian Chopper Clients

At the LABACE aviation tradeshow in São Paulo, a city in southeastern Brazil, Brazilian ...

What’s Eating Brazil

I have an offer from the bureaucrats in the port of Santos, Customs and ...

Despite Misgivings Brazil Ready to Welcome Chavez into Mercosur

Brazil's Senate leader and former president José Sarney said that the Mercosur incorporation of ...

African Dust Winds Bring 56% of Brazil Amazon Jungle’s Minerals

A single spot in the Sahara desert is responsible for over half the Amazon ...

Political Instability and Oil Prices Put Brazil in the Red

Latin American markets continued to decline, as both Brazil and Mexico came under pressure. ...

Brazil’s Lula Gets Peace Prize from UNESCO

UNESCO, the United Nations Educational, Scientific and Cultural Organization awarded the Brazilian president, Luiz ...

Meet the Inventor of Brazil

Brazilianness was commonly understood to mean that collection of qualities which defined the nation, ...