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:

Ads

You May Also Like

Brazil Sounds: Stalking Veloso and Gil’s Ghosts in London

During the years Brazilian composers Caetano Veloso and Gilberto Gil spent in London they ...

Brazils Says Environment Will Guide Its Next Budget

Brazil’s interim Minister of Environment, Claudio Langone, says that one of the biggest challenges ...

71.3! Expect to Live that Much if You Are Brazilian

The life expectancy of both men and women who were born in Brazil in ...

Brazil Is World’s 6th Biggest in IT, But 73% of Its Software Comes from Abroad

A survey by the Brazilian software association (Abas) reports that Brazil’s information technology (IT) ...

Hardly Working

There are between 16.5 million and 30 million Brazilians working in the informal economy, ...

Best-seller Books, Plays and Movies

By Brazzil Magazine Doido Varrido (Stark Crazy)—A stressed actor takes refuge in a resting ...

São Paulo Stock Market in Brazil

Brazil Hits Two Records: Stocks Surpass 47,000, Country Risk Plummets to 154

For the first time ever Brazil's Bovespa (São Paulo Stock Market) topped this Monday, ...

October 23 – the Day the Music Died in Brazil

By voting not to ban the sales of guns and ammunition in the referendum ...

Brazil Forum, a United Effort Against the Bush Threat

The Fifth Annual World Social Forum (WSF) held in Porto Alegre, Brazil, from January ...

Dilma Rousseff, Lula’s Pick for President, Takes 5% Lead in Polls

According to a new poll, Brazil’s incumbent candidate Dilma Rousseff took the lead in ...