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BNDES' disbursements fall 46% in Q1

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BNDES' disbursements fall 46% in Q1

Disbursementsfrom Banco Nacional de DesenvolvimentoEconômico e Social reached 18.1 billion Brazilian reais in the firstquarter of 2016, falling 46% from the same period a year ago, the bank said in astatement.

Approvals ofnew loans reached 13.5 billion pesos in the first quarter, down 37%. Meanwhile,consultations for funding totaled 23.5 billion pesos in the period, or 7% lowerfrom last year.

Infrastructuresector projects received the largest allocation at 5.7 billion pesos or 32% of totaldisbursements, followed by the industry sectors with 5.4 billion pesos or a 30%share, trade and services with 3.7 billion pesos and agriculture with 3.1 billionpesos.

Meanwhile, micro,small and medium enterprises, known as MSMEs, received 7 billion pesos, accountingfor 39% of total disbursements. BNDES invested 3.7 billion pesos alone on microcompanies for the period, the bank noted. 

As of April 25, US$1 was equivalent to 3.55 Brazilianreais.