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

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