BNDES: o banco do desenvolvimento

Abstract

This document discusses the National Bank for Economic and Social Development (BNDES) , a Brazilian state institution created in 1952 , which acts as the main provider of resources for long-term financing of investments in the national economy. Its main mission is to support the expansion, updating, and incessant renewal of the country's economic structure, aiming to increase the competitiveness of the Brazilian economy, prioritize the reduction of social and regional inequalities, and maintain and generate employment. The BNDES has two wholly-owned subsidiaries : the Special Agency for Industrial Financing (FINAME), responsible for financing the commercialization of machinery and equipment , and BNDES Participações S.A. (BNDESPAR), which invests in national companies through the subscription of shares and debentures with the objective of strengthening the capital and financial structure of private companies and developing the capital market. The bank operates with its own resources, derived from the financial return of operations already carried out , and with third-party resources, such as those from the Worker Support Fund (FAT) , which grants it autonomy in the allocation of its resources. To operate throughout the country, the BNDES uses two modalities of operation: direct, where clients are served directly by the bank, especially large companies and specific programs , and indirect, for micro, small, and medium-sized enterprises, through accredited financial institutions. The main areas of BNDES's financing actions include innovation, infrastructure, productive capacity, capital goods, micro, small and medium-sized enterprises, international insertion, urban development, social development, and the environment.