Infrastructure largest recipient of BNDES disbursements in last 12 months
By Richard High13 August 2008
The Brazilian Development Bank BNDES (Banco Nacional de Desenvolvimento Econômico e Social) made record disbursements of BRL 78.8 billion (US$ 49.5 billion) in the 12 months to June 2008, an increase of +34% over the previous 12-month period, according to a statement on the bank's website.
The largest beneficiary was the infrastructure sector as loan approvals over the 12 month period totalled BRL 63.7 billion (US$ 39 billion), an increase of +81.7%. Disbursements for these projects were also up, +80% to BRL 32.5 billion (US$ 30 billion).
The two largest recipients were the power and land transport sectors, which received BRL 22 billion (US$ 13.6 billion), or 68% of the total for the infrastructure sector, said the statement.
Loan approvals over the same period reached about BRL 112 billion (US$ 69 billion), an increase of +30%, while loan applications were up +20% to BRL 142 billion (US$ 87.6 billion).
Disbursements in the first half (H1) of 2008 also rose to a record BRL 37.9 billion (US$ 23.4 billion). About 42%, BRL 16 billion (US$ 9.9 billion), and 40%, BRL 15.2 billion (US$ 9.4 billion) went to the infrastructure sector.
In the six first months of the year, disbursements for infrastructure investment increased +83% compared to the previous 12 months.
Investments in land transport rose +79.8%, in power +42%, mainly on loans for the federal government's growth acceleration plan PAC.