BNDES Boosts Support for Brazil’s Industrial Sector Amid Economic Strategy Shift

Post Views: 511 BNDES, Brazil’s Industrial Sector Brazil’s development bank, BNDES, significantly increased credit approvals for the industrial sector. Specifically, BNDES approved R40.8 billion in credits in the first nine months of 2023. This represents a 92% increase compared to the first nine months of 2022. Consequently, the Brazilian government aims to strengthen manufacturing and diversify the economy.   Industry Takes Credit Lead Over Agriculture Historically, agriculture received more BNDES credit. However, in 2023, the industrial sector received 27% of total credit approvals, su...