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Brazil’s BNDES Opens the Wallet: US$ 23 Billion to Go

The Brazilian Development Bank (BNDES) made available a total of US$ 1.479 billion in loans in January this year, value 69% greater than that registered in the same month last year, which was of US$ 872.5 million.

“This result signals an acceleration in the rhythm of loan releases from the bank, which plans to carry out a budget of US$ 23.4 billion,” said the statement disclosed by the BNDES, February 18. The aim for this year is to increase in 50% the releases in relation to 2004.


According to the bank, the performance in January was pushed by the financing conceded to the industry and the exports and infrastructure sectors.


The credit granted to the industrial segment added up to US$ 823.3 million, an increase of US$ 89% in relation to January 2004.


Meanwhile financing for exports reached US$ 623 million, 116% more than in the same period last year.


The infrastructure sector, in its turn, received loans of US$ 394.3 million, an increase of 186% in comparison to the same month in 2004.


For the micro, small and medium sized companies the BNDES loaned US$ 424.7 million in January, an increase in 11% in relation to the same period last year.


The financial institution which intermediated the BNDES resources the most in January was the bank Bradesco, followed by the Bank of Brazil, the Safra Bank, the DaimlerChrysler Bank and the bank Unibanco.


Translated by Silvia Lindsey
Anba

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