BNDES - Brazilian Development Bank

BNDES’ disbursements total R$ 18.1 billion in 1Q


• MSMEs account for 39% of total disbursements

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 fact that the fall in consultations and eligibilities has slowed reflects, mainly, the situation for industry, for which consultations, at R$ 8.1 billion in 1Q, rose 77%. Eligibilities, in their turn, reached R$ 8.1 billion, up a whopping 84%. Most of this came from the transport equipment segment, which includes the production and assembly of automobiles, ships, railway equipment and aircraft.

In a sectorial analysis, the BNDES released R$ 5.7 billion to infrastructure in the first quarter of 2016. With this, infrastructure received the largest volume of resources, representing some 32% of the total disbursements for 1Q16. Next in line was Industry, with R$ 5.4 billion (a 30% share), Trade and Services (some R$ 3.7 billion) and Agriculture and Cattle-raising (R$ 3.1 billion).

Approvals for infrastructure totaled R$ 5 billion up to March this year, which is a 37% share of the total the Bank approved in the period. Approvals for financing in the Agriculture and Cattle-raising sector, which totaled R$ 3.4 billion, represented 25%. Approvals in Industry reached R$ 2.3 billion (a 17% stake), while Trade and Services amounted to R$ 2.8 billion (21%). 

Micro, small and medium-sized companies (MSMEs) posted important participation in the Bank’s performance in the period. With R$ 7 billion, small companies accounted for 39% of total financing released in the first quarter of 2016. The BNDES released R$ 3.7 billion to micro companies alone, representing 21% of total disbursements. Earnings also accompanied the decentralization of the BNDES’ credit.

Disbursements to the so-called Green Economy totaled R$ 3.5 billion in the period. This category includes a wide array of projects, such as energy efficiency, renewable energy, management of water, sewage and solid waste, improvement to farming, adapting to climate change, reforestation and public transport (subway and trains), among others.

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