São Paulo – The Brazilian Development Bank (BNDES) announced yesterday (30th) that it disbursed 84.2 billion reals (US$ 46.9 billion) between January and August, growth of 59% in comparison with the first eight months last year. The figure, according to the bank, is a record high for the period.
Industry and the infrastructure sectors received 84% of the funds cleared between January and August, or 70 billion reals (US$ 39 billion).
New loans that have been passed, but not necessarily freed up already, totalled 98.8 billion reals (US$ 55 billion) during the period, growth of 49% over the first eight months of 2008. Industry, according to the bank, accounted for 48% of total funds cleared, i.e. 47.2 billion reals (US$ 26.3 billion), 42% more than from January and August last year. The volume of funds cleared for the sector was also the highest ever for the period.
With regard to the infrastructure sector, clearance of new financing totalled 34.4 billion reals (US$ 19.1 billion), i.e. 35% of the total, according to the BNDES. There was growth of 62% in the total of funds cleared, compared with the first eight months of 2008. The trade and services sectors accounted for 13% of clearances and agriculture, for 4%.
Financing consultations received by the bank, which show the interest of companies in making loans in order to invest, totalled 161.8 billion reals (US$ 90.2 billion), growth of 33% over the same period of last year. Projects eligible for clearance totalled 128 billion reals (US$ 71.3 billion), growth of 21%.
According to the bank, consultation and eligibility figures outline “a perspective of investment, both in industry and in infrastructure, particularly in the electric, logistics, oil and gas, housing and agribusiness sectors.”
In the 12-month period ending in August, disbursements by the BNDES totalled 123.6 billion reals (US$ 68.9 billion), growth of 53% compared with the previous period.
*Translated by Gabriel Pomerancblum
