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Development Bank disbursements down 15%

16/05/2017 at 17:22h

Rio de Janeiro – Disbursements made by the Brazilian Development Bank (BNDES) in the first four months of this year came out to BRL 21.4 billion (USD 6.8 billion), a 15% drop from a year ago. According to the bank, the result is in line with the downtrend seen since the second half of 2016.

However, according to BNDES, an increase in number of credit approvals for industry and for machinery/equipment purchases is an indication of economic recovery. Loans approved under Finame (a line of credit for financing of capital goods) amounted to BRL 6.7 billion (USD 2.1 billion) from January to April, up 38% from the comparable period in 2016.

Via Agência Brasil. Translated by Gabriel Pomerancblum

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