São Paulo – The Brazilian Development Bank (BNDES, in the Portuguese acronym) reported this Thursday (18th) that it supplied R$ 187.8 billion (US$ 57.7 billion) in loans last year. The sum is down by slightly over 1% from the total amount disbursed in 2013.
According to the bank, the majority of loans went to the infrastructure sector, at R$ 68.9 billion (US$ 21.1 bn), up 11% from the prior year. The bulk of infrastructure loans went to road transportation and electric power. However, financing increased the most for telecommunications.
Loans to the general industry reached R$ 50 billion (US$ 15.3 bn), down 14% from 2013, reflecting the weak performance seen last year. Leading loan takers within industry were transportation material, chemicals and petrochemicals, and food and beverages, according to the BNDES.
The bank approved loans worth R$ 204.8 billion (US$ 62.9 bn), down 14% from 2013. The sum concerns loans that have already been authorized but not necessarily cleared out.
Inquiries made to the BNDES reached R$ 236.2 billion (US$ 72.6 bn) last year, down 15% from 2013. Loan inquiries are a signal of companies’ willingness to borrow money in order to invest.
*Translated by Gabriel Pomerancblum
