The BNDES has approved R$ 400 million in financing to remodel and refit the Governador Magalhães Pinto soccer stadium, known as Mineirão, which will be one of the venues of the 2014 World Soccer Cup in Brazil. The operation is within the scope of the BNDES ProCopa Arenas program and such funding will be earmarked for Minas Arena Gestão de Instalações Esportivas S.A.

On July 21, the BNDES signed an agreement to expand its financial cooperation with Japan Bank for International Cooperation (JBIC), aiming at supporting Brazil’s and Japan’s projects of mutual interest. Memorandum of Understanding provides for contracting, between JBIC and the BNDES, of up to US$ 3 billion. Funding must be invested in infrastructure projects, mainly in the transport sector.

The BNDES’ disbursements reached R$ 55.8 billion in the first half this year, which represents a 6% reduction compared to the same period last year. Over the 12 months ending June, the Bank releases amounted to R$ 139.9 billion, which meant a 9% drop compared to the same period 12 months earlier.

The BNDES registered net income of R$ 5.3 billion in the first half of 2011. This is equivalent to an increase of 47.8% compared to that in the first half of 2010, which totaled R$ 3.6 billion. This is the highest income earned by the institution in the first half of any year.