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Brazil's Development Bank's disbursements up 31% in 2010
Date: 2010/12/28 Click: 969
Brazil's Development Bank's (BNDES) disbursements reached 153.6 billion reais (90.8 billion U.S. dollars) in the first 11 months of 2010, up 31 percent from the same period in 2009, the Bank announced on Monday.

The high figures are mainly due to the huge share sale carried out by state-controlled oil and gas giant Petrobras in September, BNDES stated. In November, disbursements totaled 12.7 billion reais (7.51 billion U.S. dollars), up 16 percent year on year.

BNDES' disbursements to the industrial sector totaled 73.2 billion reais (43.3 billion U.S. dollars) in the first 11 months of the year, while disbursements to infrastructure sector reached 47 billion reais (27.81 billion U.S. dollars).

From January to November, disbursements to micro, small and medium-sized companies reached record-high 41.1 billion reais (24.3 billion U.S. dollars).

According to BNDES, the disbursements to micro, small and medium-sized companies now reach 27 percent of the total disbursements of the bank in the period.

The disbursements made to those companies in the first 11 months of this year have already reached the disbursements made in 2009.

The number of operations made with micro, small and medium sized companies reached record-high 501,300. BNDES attributed the positive figures to its program of Investment Sustainment (PSI) and the operations made with the BNDES Card.
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