São Paulo – The Brazilian Development Bank (BNDES, in the Portuguese acronym) announced this Monday (24th) that financing to micro, small and medium companies nearly doubled last year compared with 2009. The institution disbursed 45.7 billion Brazilian reals (US$ 27.3 billion) to these enterprises.
The bank informed that 610,000 credit operations were performed, of which 93% involved micro, small and medium enterprises and natural persons. To the bank, this indicates greater access and greater distribution of its financing.
Small companies accounted for the highest number of operations, but the same does not apply to the value disbursed. Last year, the Development Bank granted 168.4 billion reals (US$ 100.9 billion) in loans, growth of 23% over 2009.
The figure includes funds invested in Petrobras’ fundraising operation, which took place in the second half of 2010 and, according to the bank, was a one-time event. Discounting the value of the operation, the institution disbursed 143.7 billion reals (US$ 86.1 billion), a 5% increase over the previous year.
The bank also informed that the Brazilian industry accounted for 47% of the loans, infrastructure for 31%, and trade and services for 16%. There was an increase in disbursements to all these sectors and to agriculture as well.
To the bank, the main driver of growth in loans was the Sustained Investment Program (PSI), launched by the government in July 2009 as a response to the international financial crisis. It offers loans at "highly competitive" interest rates, according to the BNDES, in particular for the purchase of capital goods. The program is scheduled to end on March 31st this year.
*Translated by Gabriel Pomerancblum
