Message from the Minister

The geographic decentralization of credit and the 47% increase in the number of operations carried out are the highlights of the Brazilian Development Bank’s (BNDES) performance in 2011. The Bank allocated a total of R$ 139.7 billion last year, maintaining the policy of guaranteeing access to credit for companies nationwide and of all sizes. Some 896,000 loans were granted, the largest number of operations the Bank has ever recorded in its history. The Northern and Northeastern regions accounted for 22% of the available resources, a 17% increase in comparison to 2010. With the allocation of R$ 7.6 billion by means of the BNDES Card, some 76% higher than 2010, micro, small and medium-sized companies had a special year. Record amounts of resources were allocated to this segment, which reached R$ 49.8 billion.

The infrastructure sector received the majority of resources, 40%. The industrial segment received 32%, trade and services received 21%, while the agriculture and cattle-raising sector received 7%. All Brazilian production sectors benefited from specific financing lines, such as the BNDES Investment Maintenance Program (BNDES PSI), whose machinery and equipment loans totaled R$ 42.5 billion.

Last year, the BNDES played a leading role in government policies, such as the Brasil Maior Plan and the Growth Acceleration Program (Programa de Aceleração do Crescimento – PAC). Besides this, it actively participated in discussing and defining programs such as Airport Concessions (Civil Aviation Department) and the National Climate Change Fund (Ministry of the Environment).

This insertion helped the country maintain the expansion of investments above the Gross Domestic Product (GDP). Once again, the Bank exceeded its goals and reached its main objective of contributing to the expansion of investments in the Brazilian economy without forgoing the challenge of sustainability.

In 2012, when it celebrates its 60th anniversary, the BNDES expects to repeat such success and overcome the challenges on the horizon, contributing to the economic, social and environmental sustainability of the Brazilian economy. In anticipation of the celebrations, I congratulate this institution’s entire team, which has contributed so much to the development of Brazil.

Fernando Pimentel
Minister of Development, Industry and Foreign Trade