Rio de Janeiro – Loans granted by the Brazilian Development Bank (BNDES) in January and February 2013 amounted to R$ 21.2 billion (US$ 10.6 billion), according to figures released this Thursday (21st) by the institution. The amount is up 39% from the same period in 2012.
To the BNDES, the good results reflect a set of federal government measures designed to foster investment, and point to a resumption of economic activity. According to the bank, industry drove the increase in loans during the period with a 112% increase. The sector accounted for 32% of all loans, at R$ 6.9 billion (US$ 3.4 billion).
Loans to the machinery and equipment sector were up 78%, and agricultural implements were the main target of loans of the BNDES Finame line of financing, with R$ 10.2 billion in loans, up 60%.
*Translated by Gabriel Pomerancblum
