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07.29.08
» BNDES Audit finds there are no irregularities in financings to Praia Grande and Lojas Marisa
Internal audit created to assess BNDES procedures in
financing granting to the city of Praia Grande and to Lojas
Marisa found no irregularity evidence in the process
significant operations. Such operations followed all due
procedure stages and were performed in compliance with BNDES
standards. The time elapsed between the course of action
before the Bank and its contracting was also compliant to
ordinary procedures.
Decision to perform audit was made due to Federal Police
investigation, which pointed out evidence of BNDES abuse of
funds by a criminal organization, in the scope of Operation
Santa Tereza.
The scrutiny comprised complete overhaul of all documents
connected with the operations contracted with the funding
grantees during the last five years. An assessment of the
procedures carried out in the scope of BNDES system was also
performed. It addressed all loan granting process steps and
did not find any irregularity or breach of the Bank
standards.
The ordinary procedural course of a financing request in
BNDES begins with the submission of Inquiry Letter (Previous
Inquiry), which model is available on the Bank website. This
mail is analyzed in the Departamento de Prioridades (Priorities
Department — DEPRI) of the Área de Planejamento (Planning
Area) of BNDES (AP). DEPRI analyzes the project virtue and
checks if it is compliant with the Bank operational
policies. The Departamento de Risco (Risk Department —
DERISC) of the Área de Crédito (Loan Area — AC)
concomitantly assesses the loan applicant’s risk analysis.
Both information is submitted to the approval of the Comitê
de Enquadramento de Crédito (Loan Qualification Committee),
consisted of all superintendents (BNDES staff employees).
Upon approval of said Loan Qualification Committee, the
project is reported to one of the Bank Operational Areas.
There, a BNDES multidisciplinary team performs the
thoroughly strict technical analysis, taking into account
the applicant’s collaterals, economical and financial
feasibility, settlement capacity and idoneousness. BNDES has
seven operational areas (foreign trade, industrial, basic
inputs, infrastructure, stock market, indirect operation and
social operational areas).
The operation is submitted to the superintendent and Board
of Directors approval, in associated decision, once the
analysis report is concluded, what may take months due to
the thorough character of the process.
All BNDES projects, in each and every area or sector, are
subject to the same procedures set forth above. Such process
usually involves more than 30 employees and different
associated bodies.
The contracting is undertaken only after the operation is
approved. Fundings are disbursed in installments, always
pursuant to technical follow-up and observing the physical
and financial project development.
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