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Brazil's federal development bank BNDES is working to attract more players to finance infrastructure projects.
"BNDES is positioned to be an important market articulator in order to coordinate different agents to deliver all infrastructure projects that Brazil needs. We don't want to be the biggest financiers, we want to work in the coordination of project development, making such projects viable," Andre Loureiro, head of BNDES's department of investment and funds, told BNamericas.
According to Loureiro, Brazil invests around 2% of GDP in infrastructure and that needs to expand to 4% in the comings years to meet requirements.
"This is a huge amount and in any scenario BNDES is not capable of financing such an amount alone," said Loureiro.
In recent years BNDES reduced the volume of its loans as the federal government cut spending.
The development bank is working to attract more private sector banks to finance infrastructure projects and also investments from pension funds.
"Keeping the [benchmark interest rate] Selic at low levels will attract more investors, more players for infrastructure projects as they seek higher returns," added the BNDES official.