Nov 19, 2015

• With 39% of total disbursements, the infrastructure sector led performance
• BNDES Card exclusive to MSMEs grew 4%. Releases to the “green economy” expanded 10.7%

Disbursements from the Brazilian Development Bank (BNDES) totaled R$ 105.5 billion between January and October 2015, with infrastructure standing apart as the sector that most required Bank financing.

Within the first 10 months. the sector received R$ 40.8 billion – 39% of the total. Other highlights were electric energy (R$ 14.6 billion) and other transport segments (R$ 6.2 billion), including operations such as subway, air, water and pipeline transport. For the industrial sector, disbursements reached R$ 30 billion (participation of 28%), followed by trade and services with R$ 23.3 billion, while cattle-raising and agriculture received R$ 11.5 billion.

Compared to the 10 first months in 2014, disbursements dropped 28%. Approvals in the total R$ 81 billion declined 46%, which is the same percentage decrease for inquiries, which totaled R$ 108.6 billion.

Infrastructure posted the highest volume of approvals, some R$ 28.5 billion (35% of the total), which was leveraged by the electric energy segment (total of R$ 9.5 billion), which includes wind energy projects and growing investments. Approvals for the industrial sector reached R$ 23.8 billion with participation of 29% of the total the Bank approved in the period.

Expansion – From total disbursements up to October 2015, some 30% was earmarked for micro, small and medium-sized enterprises (MSMEs). Some R$ 31.4 billion was distributed to 780,000 financing operations. The BNDES Card alone (credit instrument focused on MSMEs) accounted for R$ 9.6 billion in disbursements, an increase of 4% against the previous year.

Releases to segments in the “green economy” also presented an increase in 2015, with R$ 23 billion — an increase of 10.7% against January-October 2014. This number, based on international classifications, includes projects related to renewable energy and energy efficiency, forestry production, hybrid and electric-powered transport, sanitation and agricultural improvements, among others.

Decentralization – Within the first 10 months of the year, the BNDES stuck to its policy to decentralize credit, as well as regional distribution. For the North and Northeast regions, the Bank disbursed a total of R$ 25.3 billion, which boosted the participation of such regions to 24% of the institution’s total disbursements. In 2014, this percentage was 21%.