Credit is conditioned to governance and monitoring requirements by an independent company certifying the adequate progress of the project.

The Brazilian Development Bank (BNDES) approved financing for Fibria-MS Celulose Sul Mato-Grossense, in the amount of R$ 2.3 billion to implement a new production line for whitened eucalyptus pulp in the city of Três Lagoas (MS), with a nominal capacity of 1,750 tons/year. The project includes acquiring wagons, locomotives as well as nationally-produced machinery and equipment, besides social investments in areas affected by the company.

The BNDES’ disbursements reached R$ 18.1 billion in the first quarter of this year, down 46% compared to the same period in 2015. Consultations, which totaled R$ 23.5 billion, dropped 7%, showing that the fall is slowing. The same result was posted in eligibilities, which reached R$ 22.7 billion, declining 4% in a quart-on-quarter comparison. Approvals, at R$ 13.5 billion in 1Q16, plummeted 37%.

The Brazilian Development Bank (BNDES) posted net earnings of R$ 6.199 billion in 2015. The main positive factor was the increase in the earnings from financial intermediation, which reached R$ 18.691 billion, up 39.6% on amounts registered in 2014. Another positive indicator was the steady and low default rate, at 0.06%, well below the average for the National Financial System, which was 3.4%. This reflects the high quality of the Bank’s credit portfolio.