Disbursements from the BNDES reached R$ 24.5 billion in the first quarter of this year, almost on par with the same period last year. Meanwhile, consultations and eligibilities of projects in the Bank grew significantly.

The board of directors of the BNDES approved R$ 373.5 million in financing to Renault Brazil for the company’s three-year engineering program and some social initiatives. The BNDES’ resources, which represent 67% of the total investments, are from the BNDES’ Engineering Support Program (BNDES Proengenharia) and Investment Maintenance Program (BNDES PSI).

As part of the measures announced by the federal government to stimulate investment, the BNDES has significantly reduced the cost of its financing for machinery and equipment, extending loan terms and its maximum levels of participation.

The president of the BNDES, Luciano Coutinho, and the presidents of the development banks in China, Russia, India and South Africa, all countries that comprise the so-called BRICS bloc, signed two accords today that pave the way to intensifying economic relations between these emerging powers.