Brazilian Development Bank
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| Type | Government-owned corporation |
|---|---|
| Industry | Finance and Development |
| Founded | 1952 |
| Headquarters | Rio de Janeiro, Brazil |
| Key people | Luciano Coutinho, (Chairman) |
| Net income |  US$ 5.0 billion (2011) |
| Total assets | US$ 334.7 billion (2011) |
| Employees | 2,000 |
| Website | www.bndes.gov.br |
The Brazilian Development Bank, also known as National Bank for the Economic and Social Development (Portuguese: Banco Nacional de Desenvolvimento Econômico e Social, abbreviated: BNDES) is a federal public company associated with the Ministry of Development, Industry and Foreign Trade. Its goal is to provide long-term financing for endeavors that contribute to the country's development. BNDES is the largest development bank in the world.[citation needed]
The results of the endeavors financed by BNDES can be seen in the improved competitiveness of the Brazilian economy as well is in the higher quality of life of its population.
BNDES also seeks to strengthen the capital structure of private companies, the development of capital markets, the trading of machines and equipment and the financing of exports.
Since its establishment, on June 20, 1952, BNDES has financed large-scale industrial and infrastructure endeavors, and has played a significant role in the support of investments in agriculture, commerce and the service industry, as well as in small and medium-sized private businesses, even though its focus lies on larger firms.[1]
Another highlight is the support of social investments aimed at education and health, family agriculture, basic sanitation and mass transportation.
BNDES considers it fundamentally important, in the execution of its credit policy, to take into account ethical and environmental principles. As such, BNDES is firmly committed to the principles of sustainable development.
The financial support lines and programs offered by BNDES serve the investment needs of companies of any size and sector that have been set up in the country. The partnership with financial institutions with agencies established around the country facilitates the dissemination of credit, enabling greater access to BNDES's resources.
The BNDES has three integral subsidiaries: FINAME, BNDESPAR and BNDES Limited. Together, the three companies comprise the BNDES System.
Recently there have been some debates about the bank's plan to finance a dam project that causes dislocation of local communitites. It was also criticised for supporting the international expansion of some private firms. [2]
External links [edit]
- Brazilian Development Bank (BNDES) official webpage
- Introduction to Banco Nacional de Desenvolvimento Econômico e Social in English
References [edit]
- ^ Fernando J. Cardim de Carvalho (January 2013). "Relative insulation". D+C Development and Cooperation/ dandc.eu.
- ^ Fernando J. Cardim de Carvalho (January 2013). "Relative insulation". D+C Development and Cooperation/ dandc.eu.
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