Brazil's BNDES (Brazilian National Development Bank) intends to make available 80 billion Brazilian reais (US$ 45.5 billion) in funds for financing in 2008. The value is 24% greater than the total made available last year: 64.9 billion reais (US$ 36.9 billion).
The funds made available in 2007 had already been record and presented growth of 24% over 2006.
Last year there was an increase of approval of loans in infrastructure projects (104%, 45.6 billion reais – equivalent to US$ 25.9 billion), boosted by the increase in financing for electric energy, logistics and telecommunications.
According to BNDES president Luciano Coutinho, the projects for electric energy should continue growing in 2008.
The approvals for electric energy products in 2007 grew 207% over 2006, reaching 12.8 billion reais (US$ 7.3 billion). The direct BNDES participation in the sector permitted total investment of 17.8 billion reais (US$ 10.1 billion).
In industry, there was 39% growth in the funds made available, and they reached 19.8 billion (US$ 11.3 billion) and the value of approved projects grew 44%, reaching 31.3 billion reais (US$ 17.8 billion), excluding the result of financing to export. On including foreign sector operations, the result shows a 2% drop in the volume of funds loaned.
Among the projects approved by industry are support to MMX, for the construction of infrastructure for iron exploration in the state of Minas Gerais, the construction of a port terminal in São João da Barra and an ore transfer line, financing for the purchase of national equipment by ironworks CSA, in Santa Cruz, in Rio de Janeiro, and financing to Atlântico Sul shipyard for the construction of ten ships.