Brazil's BNDES Chief says Company Interest in Loans Up 30 pct
Brazil's BNDES Chief says Company Interest in Loans Up 30 pct
AS/COA’s keynote speaker and President of the Brazilian Development Bank (BNDES) Luciano Coutinho told reporters the organization will likely disburse 150 billion reais ($72 billion) worth of new loans this year, up from 139.7 billion reais in 2011.
Nov 16 (Reuters) - Company inquiries about tapping Brazil's BNDES state development bank for loans is up 30 percent the past two months, a strong sign of potential growth in the near future for a sluggish economy, the bank's president said on Friday.
BNDES, the country's largest source of long-term corporate credit is likely to disburse 150 billion reais ($72 billion) of new loans this year, up from 139.7 billion reais in 2011, BNDES President Luciano Coutinho told reporters at the Americas Society in New York.
"It depends on how much demand increases in November and December. It usually is seasonally strong, but this time it seems stronger," said Coutinho. "We also foresee the current demand for capital goods is increasing," he said....
