São Paulo – Disbursements by the Brazilian Development Bank (BNDES) reached 153.6 billion reals (US$ 90.8 billion) from January until November 2010. The figure is 31% higher than in the same period of 2009, and fundraising operations conducted by the Brazilian oil company Petrobras in September have contributed. In November alone, the disbursed 12.7 billion reals (US$ 7.5 billion), an increase of 16% compared with the same month of last year.
Disregarding Petrobras’ operations, the bank’s disbursements reached 128.8 billion reals (US$ 76.1 billion) up until last month, growth of 10% over the same period last year. As a result, the BNDES projects total disbursements of 140 billion reals (US$ 82.6 billion) for 2010, a slightly higher figure than in 2009.
Industry was the sector that benefited the most, with disbursements of 73.2 billion reals (US$ 43.2 billion) up until November, a figure equivalent to 47% of the total cleared up by then. Infrastructure received 47 billion reals (US$ 27.7 billion), or 31%. The highlights within the industrial sector were food and beverages, which received 12.8 billion reals (US$ 7.5 billion, growth of 115%), and textiles and clothing (growth of 281%).
As for infrastructure, the bulk of investment went to the highway transport sector, which received 23.6 billion reals (US$ 13.9 billion), 96% more than in 2009.
Disbursements for micro, small and medium businesses reached 41.1 billion reals (US$ 24.4 billion) during the period, a record figure that raised the sector’s share of the bank’s total disbursements up to 27%. The sum represents growth of nearly 100% compared with the first eleven months of 2009. The number of operations carried out with micro, small and medium enterprises, 501,300, is also a record.
The increased disbursements to the sector were a result of the Sustained Investment Program (PSI, in the Portuguese acronym), which made 26.8 billion reals (US$ 15.8 billion) available to enterprises, and of the BNDES Card, which reached 280,000 operations. According to information supplied by the bank, the PSI’s portfolio is now 117.8 billion reals (US$ 69.5 billion), including operations that have either been carried out, approved, or are under analysis. From that total, 83.6 billion reals (US$ 49.3 billion) have been disbursed.
*Translated by Gabriel Pomerancblum
