Rio de Janeiro – The National Development Bank (BNDES) freed up 43.5 billion reals (US$ 27.7 billion) in the first five months of the year, a decline of 6% compared with the same period of 2010. The micro, small and medium companies accounted for 44% of all disbursements.
In the 12-month period ended May, the BNDES freed up 140.9 billion reals (US$ 89.9 billion), 7% less than in the preceding 12 months. Considering Petrobras’ fundraising operation, in September 2010, valued at 24.7 billion reals (US$ 15.7 billion), disbursement over the last 12 months reaches 165.8 billion reals (US$ 105.8 billion), an increase of 10%.
According to information disclosed by the BNDES in a statement, loans to micro, small and medium companies, however, grew by 11% during the period, totalling 19 billion reals (US$ 12.1 billion). For five consecutive months, operations with micro, small and medium companies are a highlight of the BNDES’ performance. From January to May, more than 290,000 operations were carried out with the segment, equivalent to 94% of the total.
The institution ascribes the result to the wide reach of the BNDES Card, a product exclusively targeted at smaller companies and which, in the first five months of the year, freed up 2.4 billion reals (US$ 1.5 billion) in 177,000 operations. In the 12-month period ended May, BNDES Card operations reached 5.3 billion reals (US$ 3.3 billion).
The BNDES assessed that its performance in the first five months of the year ratifies the estimates of maintaining the disbursements in 2011 at the same level as in 2010, of roughly 145 billion reals (US$ 95.6 billion). The infrastructure sector, with 17.5 billion reals (US$ 11.1 billion), accounted for 40% of all financing operations cleared up until May, the highlight being the road transport segment, to which 10.5 billion reals (US$ 6.7 billion) were allocated.
*Translated by Gabriel Pomerancblum
