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06.26.08
» Approvals of BNDES for the North grow
402% in 12 months
BNDES’ performance in the last 12 months, ended on May
reveals strong expansion of approvals for the North of
Brazil. The 402% increase in the period amounted to R$ 10.2
billion and corresponded to 9% of total approvals in the
Bank from June 2007 and May 2008. In the same months of
previous year, approvals for the North reached as much as R$
2 billion, corresponding to 6% of the amount of projects
approved in the Bank. Overall disbursements broke a record
and amounted to R$ 78.6 billion, a 36% increase.
Disbursements for the north region amounted to R$ 4.7
billion (a 149% increase), which is well below the projects
approved, which points out to a trend of increase for
approvals for the north states. The Northeast also presented
better performance as compared to the South and the
Southeast. Approvals increased 27%, R$ 9.8 billion, and
disbursements 49%, R$ 7.1 billion.
The figures of loans to the north also reveal
diversification of investments in the region. Projects
approved in the period analyzed include electric power,
transport and logistics, mining, strengthening of tourism
and implementation of urban infrastructure and sanitation.
It is a relevant change, once, historically, the growth of
approvals and disbursements of BNDES for the North was due
to few projects.
“BNDES’ performance in the north region shows optimization
of vocation and expansion of an economic frontier in the
country, mainly in investments in iron ore and
infrastructure projects”, said the BNDES regional department
in the Northeast, Paulo Guimarães. “The new investments
bring a positive impact in terms of social development and
tackle a chronic infrastructure problem in the region”, he
said.
In mining, the Bank approved for the company MMX a credit
for the implementation of mine and a processing unit with
annual production capacity of 6.5 million tons of iron ore,
in Amapá. In logistics, R$ 774 million were lent to Vale.
These funds will help it expand its transport capacity in
Carajás Railroad, between Pará and Maranhão.
Guimarães observes the Brazilian southeast mining frontier
is shifting (due to the depletion of iron ore in the states
of that region), to the North, due to recent discoveries of
mines in the north. “We are witnessing the start of a new
cycle”, he said.
Recent iron ore projects required investments in
infrastructure, as it happened in Acre. BNDES’ board
approved R$ 517 million for urbanization works, sanitation
projects, health and education, economic and social
development, and integration.
The new expansion cycle of the economy has also fostered
investments in energy, both in energy generation and
transmission lines. Among the projects approved in BNDES, in
the period analyzed, we can name the loans intended to
energy, such as the loan given to Urucu-Manaus Transporting
company for the construction of the gas pipeline, which will
allow the substitution of fuel oil, a pollutant substance,
for gas in electric power generation.
Also in terms of energy, the Bank approved financing for the
Small Power Plant (PCH) Salto Curuá, with 30 MW generation
capacity; the implementation, operation and maintenance of a
937 kilometer-long transmission line; and for the
construction of the power plant Estreito (project developed
under the Growth Acceleration Program), with installed
capacity of 1.087 MW.
Sector performance – The sector of infrastructure
keeps on leading total approvals of BNDES. In the 12 months
ended in May, R$ 47.9 billion were approved (a 58% increase
as compared to the previous period) assigned to the sector.
Although the amount of loans approved for the industry is
virtually the same, the growth for this sector was smaller
(7%).
Disbursements followed similar behaviors. Infrastructure
received R$ 32.2 billion (a 85% increase), leaded by the
sectors of electric power and road transports. Approvals for
the industry amounted to R$ 32 billion (an 8% expansion),
with special highlight for the food and beverage and
chemical and petrochemical industry.
Overall performance – The increase trend kept steady
in the annual results up to May. BNDES’ disbursements
totaled R$ 78.6 billion, a record in a 12-month period, and
36% higher than the same period before, and approvals
amounted to R$ 110.9 billion, 24% higher as compared to the
same period. Eligibilities were R$ 129.7 billion and
inquiries, R$ 142.2 billion, a 21% and 20% increase,
respectively.
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