Rio de Janeiro – Disbursement by the Brazilian Development Bank (BNDES) totalled 46 billion reals (US$ 25.5 billion) from January until May this year, representing growth of 41% compared with the same period of 2009. The result is mostly due to the bank’s Sustained Investment Programme (BNDES PSI), launched by the federal government in July last year to stimulate the productive sector.
Manufacturing and purchases of machinery and equipment through the BNDES PSI totalled 18.4 billion reals (US$ 10 billion) in the first five months of 2010, said to Agência Brasil the superintendent of Planning at the BNDES, Cláudio Leal.
The infrastructure sector received 41% of disbursements from January until May this year, totalling 18.6 billion reals (US$ 10 billion). The industrial sector received 13.3 billion reals (US$ 7.3 billion) in financing in the first five months. Trade and services received 9.8 billion reals (US$ 5.4 billion) in funding, and agriculture received 4.2 billion reals (US$ 2.3 billion).
In the 12-month period ended May, financing by the BNDES posted growth of 64% and totalled 150.7 billion reals (US$ 83 billion). The majority of the funds (64.4 billion reals, or US$ 35 billion) were allocated to infrastructure projects.
Cláudio Leal stated that the figures for June, currently begin consolidated, should surpass the result for May, and thus lead the accumulated disbursement figure to increase as well. “Our annual disbursements range from 126 billion reals (US$ 70 billion) to 130 billion reals (US$ 72 billion). It is a very expressive figure,” he stated.
*Translated by Gabriel Pomerancblum
