São Paulo – The Brazilian Development Bank (BNDES) informed on Tuesday (22) that it disbursed R$ 156 billion (US$ 78 billion) in loans in 2012, growth of 12% over 2011. In the same comparison, inquiries about financing climbed 60% and credit approved, but not yet disbursed, by 58%. The bank evaluates that this shows “strong disposition” of Brazilian businessmen to invest.
The infrastructure and industry sectors were the main borrowers last year. In the former, the leadership was in resources turned to electric energy projects and road transport. In the latter, the largest volume of funds went to the chemical and petrochemical product and transport material sectors.
According to Agência Brasil, based on the 2012 performance, the president at the institution, Luciano Coutinho, said that this year there should be recovery in the rhythm of direct investment.
“There should be greater demand [for financing] and we must study how to share this pressure with the market,” said the executive, according to Agência Brasil.
BNDES, the state-owned fostering bank, is by far the main supplier of large, long-term loans in Brazil, an area in which commercial banks are shy. Apart from that, the interest charged by the organisation is subsidised.
*Translated by Mark Ament
