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06/11/2017 - 16:09hs
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BNDES to disburse USD 23.60 billion

The forecast of total disbursements to be made this year by the Brazilian Development Bank (BNDES) was reported by its president. The amount stands below the BRL 80 billion (USD 24.61 billion) of the previous forecast.



Rio de Janeiro – The president of the Brazilian Development Bank (BNDES), Paulo Rabello de Castro, said this Monday (6) that the bank’s disbursements in 2017 should reach BRL 77 billion (USD 23.60 billion). The amount stands below the initial forecast of BRL 80 billion (USD 24.61 billion) and represents the total value of credit loaned to companies.

Rabello de Castro took part this Monday (6) of an event in Rio de Janeiro. He considers BRL 80 billion an optimistic forecast, but expects the credit line BNDES Giro to boost disbursements in November and December with the participation of micro and small companies.

For 2018, the bank estimates that the micro, small and medium-sized companies will receive over half of the total of disbursements, which is predicted to reach BRL 97 billion (USD 29.84 billion). “We’re aiming to reach BRL 97 billion, which would add 30% more, which is compatible to a country that is rising from the dead. We are rising from a really extended recession,” said the bank’s president.

*Translated by Sérgio Kakitani

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