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03.10.08
» BNDES creates a fund for technical studies and the elaboration of infrastructure projects
BNDES approved the creation of Project Structuring Fund (FEP) for financial support to the carrying out of technical studies and for elaboration of logistic, energy, social and urban infrastructure projects promoting either the country's economic and social development or Latin American integration.
The proposed budget for FEP is BRL20 million, issuing from the non-reimbursable portion of BNDES resources. Financial support will be broken down into two categories: project support, in which studies focus on investments in a specific project; and prospective support in which potential projects are identified, but their short-term implementation is not expected.
Eligible for FEP support are technical studies for structuring projects that will yield high social returns and demand significant public or private investments. Among the guidelines for selecting these technical studies we may mention the regional diversification of investments in the country and the strengthening of Latin American integration; the promotion of pioneering financial, legal and institutional structures that will expand the range of specialized entities; and the priority status of greenfield (new) investments.
The current economic expansion cycle and the Growth Acceleration Program [Programa de Aceleração do Crescimento] (PAC) demand large investments in logistics, energy and social-area infrastructure. The feasibility of such investments, however, requires a set of technical studies that will identify projects and quantify the required financial resources.
The absence of such studies and projects is one of the major obstacles to the feasibility of investments capable of promoting economic growth and reducing regional unbalances.
BNDES has historically supported structuring projects based on financings or capital contributions. Furthermore, the Bank has an accumulated experience in project promotion, prospection and implementation.
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