The board of directors of the BNDES approved R$ 1.184 billion in financing for GVT, Global Village Telecom. The funds will be earmarked to complement the company's investment plan for the 2011-2013 period. This plan is aimed at expanding the current areas of operation and for new cities, besides the operation of cable TV services and innovations in fixed telephony and broadband internet, content, and interactivity.

The BNDES approved R$ 114.5 million in financing for a cogeneration project for energy from sugarcane biomass. The resources will be transferred to Cogeração de Energia Elétrica Paraíso, a subsidiary of Rhodia Energy SAS, a company of the Solvay Group.

The BNDES registered a net profit of R$ 7.9 billion from January to September 2011. The result represents an increase of R$ 1.8 billion (29.5%) compared to the R$ 6.1 billion obtained in the same period in 2010.

The BNDES’ disbursements reached R$ 91.8 billion from January to September of this year. The figure is the result of an already expected moderation in the Bank’s performance. The bank had adjusted a few credit lines and reduced the average of its maximum level of participation in financing. This moderation is also in keeping with the behavior registered in general indicators of the Brazilian economy.