The president of the BNDES (Banco Nacional de Desenvolvimento Econômico e Social – National Bank for Economic and Social Development),  Guido Mantega, says that Latin American development depends on greater coordination of governments and markets.

    He went on to say that development banks were important instruments in that process. Speaking at the 35th General Assembly of the Latin American Association of Financial Institutions for Development (Alide), Mantega said:


    “Development banks were created in the belief that certain sectors and strategic activities require government support. When they thrive there are jobs, income and government revenue, not to mention a reduction in the inequalities that plague our countries.”


    Mantega also cited the importance of development banks in providing financing for economic growth and said that governments should be more active in promoting development.


    Mantega, who was elected the new president of Alide, concluded by pointing out that the 35th General Assembly was taking place following a period of difficulties and low growth which is now looking like a new cycle of development.


    ABr

    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    Your email address will not be published.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

    Sweet potato

    Brazil Turns to Bill Gates Foundation to Fund Help to African Agriculture

    Researchers at Brazilian Agricultural Research Corporation (Embrapa) are in the Democratic Republic of Congo, ...

    Three Tons of Marijuana Seized in Brazilian Northeast

    The Brazilian Federal Police (PF) intends to intensify its efforts to combat the cultivation ...

    Brazilian Stocks Follow US into Black Territory

    Brazilian shares were higher today, ending a gloomy string of sell offs prompted by ...

    Brazil Opens Market and Offers Zero Tariff to Poorest Countries

    During the Progressive Governance Summit, in Pretoria, South Africa, on Sunday, February 12, Brazilian ...

    Presidents Lula and Chavez

    Chavez Asks Brazilian Lula to Tell Obama to Stop US Lies and Cynicism

    Hugo Chavez, the Venezuelan president, said he has authorized Brazil's leader to raise the ...

    China Is Third Largest Importer of Brazil’s Farm Products

    China licensed 14 new poultry producing establishments from Brazil to become their suppliers. With ...

    Free Software Is Major Theme at Brazil’s World Social Forum

    The debate over freedom of information is one of the principal themes of the ...

    Brazil Urges Israel to Use Restraint in Gaza Strip

    Brazil says it is worried with the developments in Gaza Strip, where 18 Palestinians ...

    Lula laughs

    Brazil’s Lula Loves Investment Grade – Whatever That Is

    Brazil’s President Luiz Inácio Lula da Silva is having the time of his life ...

    Dilma Rousseff and José Serra

    São Paulo Governor Still Clear Favorite to Be Brazil’s Next President

    The governor of São Paulo, José Serra, from the opposition PSDB (Party of the ...