Infrastructure gets 40% of BNDES disbursements in quarter
Valor Econômico
The disbursements of the National Development Bank (BNDES) achieved R$ 25.497 billion (US$ 14.165 billion) in the first quarter, an increase of 37% compared to the same period of last year. The releases were led by the infrastructure sector, with 40% of the total (R$ 9.934 billion/US$ 5.519 billion), followed by the industry, with 30% of the total, the equivalent to R$ 7.728 billion (US$ 4.293 billion). The sector of commerce and services received another R$ 5.194 billion (US$ 2.886 billion), while the agriculture grabbed R$ 2.641 billion (US$ 1.467 billion). The approvals increased 31%, to R$ 26.535 billion (US$ 14.741 billion), of which R$ 11.604 billion (US$ 6.446 billion) went to infrastructure, R$ 7.741 billion (US$ 4.301 billion) to the industry, R$ 4.827 billion (US$ 2.682 billion) to commerce and services, and R$ 2.363 billion (US$ 1.313 billion) to agriculture. The inquiries retreated 21%, to R$ 45.370 billion (US$ 25.205 billion).
In the 12 months ended in March, the bank disbursed R$ 144.254 billion (US$ 80.141 billion), growth of 53% compared to the preceding 12 months. The approvals were of R$ 176.456 billion (US$ 98.031 billion), 49% greater than between April 2008 and March 2009, and the inquiries increased 12%, to R$ 211.562 billion (US$ 117.534 billion). The industry led the disbursements in 12 months, with 44% of the total, or R$ 63.377 billion (US$ 35.209 billion), an increase of 61%. The infrastructure sector came shortly after, with 36% of the total, or R$ 51.801 billion (US$ 28.778 billion), an increase of 43% compared to the preceding 12 months. Commerce and services received R$ 20.434 billion (US$ 11.352 billion), increase of 80%, while agriculture stayed with R$ 8.348 billion (US$ 4.638 billion), growth of 52%.
The industrial sector also got ahold of the greatest slice of the approvals in 12 months, with R$ 79.165 billion (US$ 43.981 billion), growth of 63% compared to the immediately preceding 12 months, while infrastructure had an increase of 14% in the approvals, to R$ 58.532 billion (US$ 32.518 billion). The President of the bank, Luciano Coutinho, said yesterday that the institution has more than enough funds to meet the needs of disbursements for 2010 without making use of new contributions from the National Treasury or from other forms of capitalization. According to him, the disbursements of the bank this year shall be between R$ 126 billion (US$ 70 billion) and R$ 127 billion (US$ 71 billion).