12/04/2008 10h09
BNDES foresees lending US$ 43.5 bi in 2009
Valor Econômico - 12/04/2008
The vice-president of the Brazilian Development Bank (BNDES), Armando Mariante, affirmed the bank works with the initial forecast of R$ 100 billion (US$ 43.5 billion) in disbursements for next year, exceeding the R$ 90 billion (US$ 39.1 billion) that will be released this year. Mariante explained the bank has been sought by companies in order to compensate the disappearance of credit in the international market due to the financial crisis. According to him, up to this moment, the institution has been working "pro-actively", with the creation of pre-shipment lines for exporters, which will meet a demand of R$ 1 billion (US$ 435 million), and the opening of another line of R$ 6 billion (US$ 2.6 billion) to guarantee working capital for the companies. "We understood that it was time for the BNDES to provide such aid, at a moment of more difficult, less abundant, and more expensive credit", affirmed Mariante, who participated in the National Forum sponsored by the National Institute of Advanced Studies, at the bank's headquarter. The executive also considered that the country is strongly facing the current crisis and affirmed the growth in Brazil next year shall vary between 2% and 4%. "It is true we will pay a price for the crisis. It is impossible not to be affected by it, but we will go through this crisis without unnecessary suffering", he said.
