São Paulo – Brazil’s Development Bank (BNDES) announced this Tuesday (26th) that it disbursed BRL 18.1 billion (USD 5 billion) in the first quarter of this year. The amount is down 46% from Q1 2015, a reflection of the country’s recession.
According to the bank, most of the financing went to infrastructure projects (BRL 5.7 billion/USD 1.59 billion), or 32% of the total sum, followed by industry (BRL 5.4 billion/USD 1.5 billion, or 30%), trade and services (BRL 3.7 billion/USD 1 billion) and agriculture (BRL 3.1 billion/USD 869 million).
BNDES also said 39% of disbursements (BRL 7 billion/USD 1.9 billion) went to micro, small and medium businesses.
*Translated by Gabriel Pomerancblum

