BNDES disbursements total US$56bn in January-October

- Wednesday, December 21, 2011

BNDES disbursements total US$56bn in January-October

Brazilian development bank BNDES had a total of 104bn reais (US$56bn) in loan disbursements during the first 10 months of the year, a press release from the bank reads.

Compared to January-October in 2010, the disbursements dropped 26% due to the high comparison base, as BNDES had capitalized federal oil giant Petrobras (NYSE: PBR) to the tune of 24.5bn reais in September last year.

The infrastructure sector received 41% of the bank's total disbursements in the 10 months this year, while the industrial sector accounted for 31%, followed by trade and services (20%) and agriculture (8%).

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