{"id":148549,"date":"2018-04-02T19:56:53","date_gmt":"2018-04-02T21:56:53","guid":{"rendered":"https:\/\/anba.com.br\/?p=148549"},"modified":"2018-04-03T13:28:13","modified_gmt":"2018-04-03T15:28:13","slug":"arabs-might-provide-usd-5-bn-brazils-development-bank","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/arabs-might-provide-usd-5-bn-brazils-development-bank\/","title":{"rendered":"Arabs might provide USD 5 bn to Brazil\u2019s Development Bank"},"content":{"rendered":"
\"\"
Rabello’s term as BNDES president came to an end last week<\/figcaption><\/figure>\n

S\u00e3o Paulo \u2013 Economist Paulo Rabello de Castro, who has just left his position as president of the Brazilian Development Bank (BNDES), said an additional USD 15 billion (or BRL 50 billion) worth of funds are expected to become available to the bank over the next five years \u2013 originating from bond issues and from the Workers\u2019 Support Fund (FAT). Rabello sat on a panel on Investments at the Brazil-Arab Countries Economic Forum this Monday (2) in S\u00e3o Paulo.<\/p>\n

Rabello said a third of the total amount expected could originate from Arab countries \u2013 something to the tune of USD 5 billion. \u201cRight now, we are short of even USD 1 billion, let alone USD 5 billion, but it\u2019s a plausible goal,\u201d he said. According to the economist, the BNDES could play the role of an investment bank for Arabs, who could purchase funds managed by the Brazilian bank.<\/p>\n

He said BNDES will be able to rely less and less on government resources, therefore it will have to seek out funds abroad. Rabello also said Brazilian investors could also invest USD 5 billion in the Arab countries.<\/p>\n

\"\"
Michel Alaby moderated the panel<\/figcaption><\/figure>\n

The panel was moderated by Arab Brazilian Chamber of Commerce<\/strong> CEO Michel Alaby and by Arab-German Chamber of Commerce secretary general Abdul Aziz Al-Makhlafi. The other featured panelists were Egypt\u2019s Abd El Kadr Darwish, vice president of the Suez Canal Economic Zone; Mohamed Abdul Wahab, vice president of the Egyptian General Investment Authority; and Marwan Barakat, the chief economist with Lebanon\u2019s Bank Audi.<\/p>\n

Darwish argued for new initiatives designed to boost Arab-Brazilian trade. \u201cRaw materials comprise 75% of exports from Brazil to Egypt. We want new ideas,\u201d he said.<\/p>\n

Wahab also said that a new investment law was passed last year in Egypt, awarding incentives and other benefits to non-local investors.<\/p>\n

Barakat, in turn, said Brazil is a good gateway to other Latin American countries.<\/p>\n

Translated by Gabriel Pomerancblum<\/strong><\/p>\n

S\u00e9rgio Tomisaki\/ANBA<\/div>\n
S\u00e9rgio Tomisaki\/ANBA<\/div>\n","protected":false},"excerpt":{"rendered":"

The BNDES\u2019 Paulo Rabello de Castro said USD 15 billion worth of investment in the bank is expected in the next five years, and one third of it could come from Arab countries.<\/p>\n","protected":false},"author":2305,"featured_media":148543,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[422,160,546,232,544,554,545],"class_list":{"0":"post-148549","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-arab","9":"tag-arabe-en","10":"tag-bndes","11":"tag-brazil","12":"tag-forum","13":"tag-investment","14":"tag-rabello"},"wps_subtitle":"The BNDES\u2019 Paulo Rabello de Castro said USD 15 billion worth of investment in the bank is expected in the next five years, and one third of it could come from Arab countries. ","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/148549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2305"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=148549"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/148549\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/148543"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=148549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=148549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=148549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}