Arab finance executive mission to Brasil: Alide-BNDE

Abstract

This study provides a comprehensive overview of the Brazilian economic development process and, above all, of the evolution and role of the Bank as the federal government’s main instrument for financing and guiding development. The text describes the transition from an economy based on the export of agricultural products to an industrial model, highlighting the phases of import-substitution industrialization, the expansion of infrastructure, basic industries, and capital goods, as well as the period of strong economic growth that began in the late 1960s. Throughout this process, BNDE progressively expanded its activities, moving from financing infrastructure, energy, transportation, and steelmaking to supporting industry, small and medium-sized enterprises, technological development, equity participation, and regional integration. The document also analyzes the challenges faced by Brazil in 1974, particularly the effects of the international oil crisis, dependence on imported inputs and equipment, and external imbalances, which led to a redefinition of priorities under the Second National Development Plan (II PND). In this new context, BNDE placed greater emphasis on import substitution in capital goods and basic inputs, strengthening domestic private enterprises, fostering innovation and technological capabilities, and expanding its instruments through subsidiaries and specific programs. At the same time, the text links economic development to social issues, such as income distribution, job creation, improvements in quality of life, and human resource development.