• Categories
  • Archives

Brazil’s Development Bank Has US$ 45 Bi to Lend. 24% More Than Last Year

Atlântico Sul shipyard in Brazil 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.

Anba

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Your email address will not be published.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

Brazil Learns That Every US$ 0.43 Invested in Sanitation Saves US$ 2.20 in Health Costs

By investing approximately US$ 305 million, Brazil’s National Health Foundation (FUNASA) hopes to improve ...

Pure Samba

In movies, plays, music, art, and literature, the Brazilian culture continues more alive than ...

“Moro no Brasil”: Brazil’s Joy and Pain Through Her Music

"Moro no Brasil," (aka "The Sound of Brazil") Finnish director Mika Kaurismaki’s 2500 mile ...

Better than 2008: Brazil Accumulates US$ 23 Billion Trade Surplus in 2009

Exports from Brazil last week generated US$ 3.212 billion, and imports, US$ 3.216 billion, ...

38 Indian Activists Killed in Brazil in 2005, the Worst in 10 Years

In Brazil, indigenous peoples continue to suffer violence and severe economic deprivation as a ...

Brazil President’s Aide Steps Up War of Words Calling FIFA’s Secretary Bum and Big Mouth

In Hanover, Germany, where he is accompanying the Brazilian president Dilma Rousseff, Marco Aurelio ...

Embraer Denies It’s Getting Subsidies from Brazilian Government

Latin American shares were mixed to lower this Friday, pressured by a fall in ...

Only the Best

In a display of excellent shape the Brazilian Chamber of Books has announced its ...

76% of Brazilians Say They Are Happy, But Only 28% Believe Their Countrymen Are Too

Are you happy? DataFolha Institute asked this question from Brazilians and 76% responded in ...

Relations with Arabs Will Never Be the Same Again, Says Brazil’s Lula

The Presidents of Brazil, Luiz Inácio Lula da Silva; Peru, Alejandro Toledo; Algeria, Abdelaziz ...