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{{Short description|Banking company that provides risk capital for economic development projects}}
{{Ref improve|date=February 2024}}
{{Infobox company
{{Infobox company
| name = Banco Nacional de Desenvolvimento Econômico e Social
| name = Banco Nacional de Desenvolvimento Econômico e Social
| logo = Bndes-financiamento.jpg
| logo = Logo do BNDES.svg
| image = BNDES Brazilian Development Bank.jpg
| image_caption = BNDES Building
| type = [[Government-owned corporation]]
| type = [[Government-owned corporation]]
| foundation = {{start date|20 June 1952}}
| foundation = {{start date|20 June 1952}}
| location = [[Rio de Janeiro]], [[Brazil]]
| location = [[Rio de Janeiro]], [[Brazil]]
| key_people = [[Paulo Rabello de Castro]] <small>([[Chairman]])</small>
| key_people = [[Aloizio Mercadante]] <small>([[Chairman]])</small>
| area_served =
| area_served =
| industry = [[Finance]] and [[economic development|Development]]
| industry = [[Finance]] and [[economic development|Development]]
| revenue =
| revenue =
| assets = {{loss}} [[United States dollar|US$]] 272.1 billion <small>(2016)</small><ref name="profit2016">{{cite web|url=https://www.bndes.gov.br/SiteBNDES/bndes/bndes_en/Institucional/Investor_Relations/performance_2016.html|title=Performance in 2016|publisher=BNDES|accessdate=27 November 2017}}</ref>
| assets = {{loss}} [[United States dollar|US$]] 272.1 billion <small>(2016)</small><ref name="profit2016">{{cite web|url=https://www.bndes.gov.br/SiteBNDES/bndes/bndes_en/Institucional/Investor_Relations/performance_2016.html|title=Performance in 2016|publisher=BNDES|access-date=27 November 2017}}</ref>
| net_income = {{profit}} [[United States dollar|US$]] 2 billion <small>(2016)</small><ref name="profit2016"/>
| net_income = {{profit}} [[United States dollar|US$]] 2 billion <small>(2016)</small><ref name="profit2016"/>
| num_employees = 2,000
| num_employees = 2,000
Line 17: Line 21:
| footnotes =
| footnotes =
}}
}}
[[File:Centro, Rio de Janeiro - State of Rio de Janeiro, Brazil - panoramio (3).jpg|thumb|right|caption|260px|Bank building next to [[Petrobras]] headquarters.]]
[[File:BNDES Building.jpg|thumb|right|260px|Bank building next to [[Petrobras]] headquarters.]]
The '''National Bank for Economic and Social Development''' ({{lang-pt|Banco Nacional de Desenvolvimento Econômico e Social}}, abbreviated: '''BNDES''') is a federal public company associated with the [[Ministry of Development, Industry, and Trade]] of [[Brazil]]. The stated goal is to provide long-term financing for endeavors that contribute to the country's development. BNDES is one of the largest development banks in the world (after the [[Chinese Development Bank]], which boasts assets of around RMB 7.52 trillion, or around $1.2 tn). Its non-performing loan ratio is also less favorable (2.2%) compared to the CDB's that stands below 1%.
The '''National Bank for Economic and Social Development''' ({{lang-pt|Banco Nacional de Desenvolvimento Econômico e Social}}, abbreviated: '''BNDES''')<ref>{{Cite web |title=Ao menos cinco governos estudam vender estatais com apoio do BNDES |url=https://www.portaldoholanda.com.br/economia/ao-menos-cinco-governos-estudam-vender-estatais-com-apoio-do-bndes |access-date=2023-03-29 |website=www.portaldoholanda.com.br |language=pt-br}}</ref><ref>{{Cite web |last=G1 |first=Do |last2=Paulo |first2=em São |date=2016-11-25 |title=BNDES publica edital para abrir privatização da Lotex |url=http://g1.globo.com/economia/negocios/noticia/2016/11/bndes-publica-edital-para-abrir-privatizacao-da-lotex.html |access-date=2023-03-29 |website=Negócios |language=pt-br}}</ref><ref>{{Cite web |date=2016-11-25 |title=BNDES publica edital para privatizar loteria das "raspadinhas" |url=https://agenciabrasil.ebc.com.br/geral/noticia/2016-11/bndes-publica-edital-para-iniciar-privatizacao-loteria-das-raspadinhas |access-date=2023-03-29 |website=Agência Brasil |language=pt-br}}</ref> is a [[development bank]] structured as a federal public company associated with the [[Ministry of the Economy (Brazil)|Ministry of the Economy]] of [[Brazil]]. The stated goal is to provide long-term financing for endeavors that contribute to the country's development. BNDES is one of the largest development banks in the world (after the [[Chinese Development Bank]], which boasts assets of around RMB 7.52 trillion, or around $1.2 tn). Its non-performing loan ratio is also less favorable (2.2%) compared to the CDB's that stands below 1%.


Among the objectives of BNDES are the strengthening of the capital structure of private companies, the development of capital markets, the trading of machines and equipment and the financing of exports.
Among the objectives of BNDES are the strengthening of the capital structure of private companies, the development of capital markets, the trading of machines and equipment and the financing of exports.


Since its establishment on June 20, 1952, BNDES has financed large-scale industrial and infrastructure endeavors, and has played a significant role in the support of investments in agriculture, commerce and the service industry, as well as in small and medium-sized private businesses, even though its focus lies on larger firms.<ref name="Fernando J. Cardim de Carvalho">{{cite web |title=Relative insulation |author=Fernando J. Cardim de Carvalho |publisher=D+C Development and Cooperation/ dandc.eu |date=January 2013 |url=http://www.dandc.eu/en/article/brazils-state-owned-development-bank-bndes-probably-more-powerful-many-countrys-federal}}</ref> The bank has supported social investments aimed at education and health, family agriculture, basic sanitation and mass transportation.
Since its establishment on June 20, 1952, BNDES has financed large-scale industrial and infrastructure endeavors and has played a significant role in the support of investments in agriculture, commerce, and the service industry, as well as in small- and medium-sized private businesses, even though its focus lies on larger firms.<ref name="Fernando J. Cardim de Carvalho">{{cite web |title=Relative insulation |author=Fernando J. Cardim de Carvalho |publisher=D+C Development and Cooperation/ dandc.eu |date=January 2013 |url=http://www.dandc.eu/en/article/brazils-state-owned-development-bank-bndes-probably-more-powerful-many-countrys-federal}}</ref> The bank has supported social investments aimed at education and health, family agriculture, basic sanitation and mass transportation.


The bank offers financial support lines and programs to companies of any size and sector that have been set up in the country. The partnership with financial institutions with agencies established around the country facilitates the dissemination of credit, enabling greater access to BNDES's financial services.
The bank offers financial support lines and programs to companies of any size and sector that have been set up in the country. The partnership with financial institutions with agencies established around the country facilitates the dissemination of credit, enabling greater access to BNDES's financial services.


The BNDES has three integral subsidiaries: FINAME, BNDESPAR and BNDES Limited. Together, the three companies comprise the BNDES System.
BNDES has three integral subsidiaries: FINAME, BNDESPAR, and BNDES Limited. Together, the three companies comprise the BNDES System.<ref>{{Cite web|url=https://www.bndes.gov.br/wps/portal/site/home/quem-somos/governanca-controle/empresas-sistema-bndes/Empresas-do-Sistema-BNDES|title=Empresas do Sistema BNDES|accessdate=25 February 2024}}</ref>


== Criticism and controversies ==
== Criticism and controversies ==
BNDES has been accused of operating with larger firms in a corrupt manner<ref name="concentra1">{{Cite web|url=http://direitoeinfraestrutura.blogspot.com/2013/03/infrastructure-bndes-concentrates-89-of.html|title=Direito e Infraestrutura: Infrastructure: BNDES concentrates 89& of its investments in five industries; three relate to the Brazilian infrastructure.|first=Maurício Jayme E.|last=Silva|date=18 March 2013|accessdate=25 February 2024}}</ref><ref name="friboi1">"BNDES $7.5 billion bet on Friboi", [[O Estado de S. Paulo]], February 15, 2010, [http://www.estadao.com.br/noticias/impresso,bndes-aposta-r-75-bi-no-friboi,511466,0.htm www.estadao.com.br/noticias] {{webarchive|url=https://web.archive.org/web/20130902053943/http://www.estadao.com.br/noticias/impresso%2Cbndes-aposta-r-75-bi-no-friboi%2C511466%2C0.htm |date=September 2, 2013 }}</ref><ref>[https://www.bloomberg.com/news/2013-07-03/batista-pledged-personal-wealth-for-1-billion-bndes-loan.html www.bloomberg.com/news/2013-07-03] about [[Eike Batista]]'s fortune gained with help from BNDES, and BNDES loss.</ref> and giving help to big corporations instead of small and medium-sized private businesses.
{{original_research|section|date=November 2015}}
BNDES operates with [[Conflict of interest|lobbying]] of larger firms,<ref name="concentra1">[http://direitoeinfraestrutura.blogspot.com.br/2013/03/infrastructure-bndes-concentrates-89-of.html "BNDESPAR CONCENTRATES 89% OF ITS INVESTMENTS IN FIVE INDUSTRIES"]</ref><ref name="friboi1">"BNDES $7.5 billion bet on Friboi", [[O Estado de S. Paulo]], February 15, 2010, [http://www.estadao.com.br/noticias/impresso,bndes-aposta-r-75-bi-no-friboi,511466,0.htm www.estadao.com.br/noticias] {{webarchive|url=https://web.archive.org/web/20130902053943/http://www.estadao.com.br/noticias/impresso%2Cbndes-aposta-r-75-bi-no-friboi%2C511466%2C0.htm |date=September 2, 2013 }}</ref><ref>[https://www.bloomberg.com/news/2013-07-03/batista-pledged-personal-wealth-for-1-billion-bndes-loan.html www.bloomberg.com/news/2013-07-03] about [[Eike Batista]]'s fortune gained with help from BNDES, and BNDES loss.</ref> not for "small and medium-sized private businesses" or "Brazilian (...) higher quality of life of its population".


Operating with statutes of "ethical and environmental principles", in 2012, the BNDES approved a 22.5 billion reais loan for the construction of the [[Belo Monte Dam]], a project that displaced of local communities. The plan was strongly criticized by environmental groups and indigenous populations.<ref>{{cite web |url=https://www.reuters.com/article/2012/11/26/bndes-belomonte-idUSL1E8MQ76I20121126 |title=
Operating with statutes of "ethical and environmental principles", in 2012, BNDES approved a 22.5 billion real loan for the construction of the [[Belo Monte Dam]], a project that displaced local communities. The plan was strongly criticized by environmental groups and indigenous populations.<ref>{{cite web |url=https://www.reuters.com/article/bndes-belomonte-idUSL1E8MQ76I20121126 |title=Brazil's BNDES approves $10.8 bln loan for Amazon Belo Monte dam |date=November 26, 2012 |publisher=Reuters |access-date=17 July 2014 |archive-date=26 July 2014 |archive-url=https://web.archive.org/web/20140726053344/http://www.reuters.com/article/2012/11/26/bndes-belomonte-idUSL1E8MQ76I20121126 |url-status=live }}</ref>
Brazil's BNDES approves $10.8 bln loan for Amazon Belo Monte dam |date= November 26, 2012 |publisher=Reuters |accessdate=17 July 2014}}</ref>


In 2013 ~90% of BNDESPAR investments concentrates in five industries.<ref name="concentra1"/> In recent BNDES investments, [[Lobbying|lobby irregularities]] and [[conflict of interest]] arrives with [[JBS S.A.]]<ref name="friboi1"/><ref name="friboi2">[[ISTOÉ]] about "BNDES feeding JBS": {{cite web |url=http://www.istoedinheiro.com.br/noticias/57871_BNDES+ALIMENTA+A+JBS
In 2013, ~90% of BNDESPAR investments concentrates in five industries.<ref name="concentra1"/> In recent BNDES investments, [[Lobbying|lobby irregularities]] and [[conflict of interest]] arrives with [[JBS S.A.]]<ref name="friboi1"/><ref name="friboi2">[[ISTOÉ]] about "BNDES feeding JBS": {{cite web |url=http://www.istoedinheiro.com.br/noticias/57871_BNDES+ALIMENTA+A+JBS
|title=BNDES alimenta a JBS - ISTOÉ Dinheiro
|title=Archived copy
|accessdate=2014-01-19 |deadurl=yes
|access-date=2014-01-19 |url-status=dead
|archiveurl=https://web.archive.org/web/20140201172125/http://www.istoedinheiro.com.br/noticias/57871_BNDES%2BALIMENTA%2BA%2BJBS |archivedate=2014-02-01 |df=
|archive-url=https://web.archive.org/web/20140201172125/http://www.istoedinheiro.com.br/noticias/57871_BNDES%2BALIMENTA%2BA%2BJBS |archive-date=2014-02-01
}}</ref> [[OGX]]/[[EBX Group]],<ref>[http://www.infomoney.com.br/mercados/acoes-e-indices/noticia/2851560/bndes-tem-operacoes-com-grupo-ebx-ccx-ogx-mmx-mpx infomoney.com.br of 2013 July], about BNDES operations with EBX and CCX, [[OGX]], MMX and MPX.</ref> [[GPA (company)]],<ref>[[Veja (magazine)]] about [http://veja.abril.com.br/noticia/economia/novo-pao-de-acucar-um-negocio-em-que-o-bndes-nao-deveria-estar "new GPA", a business in which the BNDES should not be]</ref> and others.
}}</ref> [[Dommo Energia|OGX]]/[[EBX Group]],<ref>[http://www.infomoney.com.br/mercados/acoes-e-indices/noticia/2851560/bndes-tem-operacoes-com-grupo-ebx-ccx-ogx-mmx-mpx infomoney.com.br of 2013 July], about BNDES operations with EBX and CCX, [[Dommo Energia|OGX]], MMX and MPX.</ref> [[GPA (company)]],<ref>[[Veja (magazine)]] about [http://veja.abril.com.br/noticia/economia/novo-pao-de-acucar-um-negocio-em-que-o-bndes-nao-deveria-estar "new GPA", a business in which the BNDES should not be]</ref> and others.


The bank has been criticised for supporting the international expansion of some private firms.<ref name="Fernando J. Cardim de Carvalho"/>
The bank has been criticized for supporting the international expansion of some private firms.<ref name="Fernando J. Cardim de Carvalho"/>


Economists around the world recognize that [[Brazil]] has its own development bank, a key financial organization, bigger than the [[World Bank]]. As the [[Nobel Prize in Economics|Nobel Prize economist]] [[Joseph Stiglitz|J. Stiglitz]] opinion, "''... the BNDES is a huge development bank (...) People don’t realize this, but Brazil has actually shown how a single country can create a very effective development bank (...) that actually promotes real development without all the conditionality and all the trappings around the old institutions''".<ref name="Democracy Now">{{cite web|last1=Goodman|first1=Amy|last2=González|first2=Juan|title=Nobel Economist Joseph Stiglitz Hails New BRICS Bank Challenging U.S.-Dominated World Bank & IMF|url=http://www.democracynow.org/2014/7/17/nobel_economist_joseph_stiglitz_hails_new|website=www.democracynow.org/2014/7/17/nobel_economist_joseph_stiglitz_hails_new|accessdate=26 July 2014}}</ref>
Economists around the world recognize that [[Brazil]] has its own development bank, a key financial organization, bigger than the [[World Bank]]. As the [[Nobel Prize in Economics|Nobel Prize economist]] [[Joseph Stiglitz|J. Stiglitz]] opinion, "''... the BNDES is a huge development bank (...) People don’t realize this, but Brazil has actually shown how a single country can create a very effective development bank (...) that actually promotes real development without all the conditionality and all the trappings around the old institutions''".<ref name="Democracy Now">{{cite web|last1=Goodman|first1=Amy|last2=González|first2=Juan|title=Nobel Economist Joseph Stiglitz Hails New BRICS Bank Challenging U.S.-Dominated World Bank & IMF|url=http://www.democracynow.org/2014/7/17/nobel_economist_joseph_stiglitz_hails_new|website=www.democracynow.org/2014/7/17/nobel_economist_joseph_stiglitz_hails_new|access-date=26 July 2014}}</ref>
Despite the recognition of financial volume, effective infrastructure and organization, the bank is used by only a few industries. The concentration of financial volume in few and perhaps questionable industries contradicts the bank's development and diffusion goals. The concentration contrasts greatly with Brazilian's [[per capita income]] and its many [[small and medium-sized enterprises]].
Despite the recognition of financial volume, effective infrastructure and organization, the bank is used by only a few industries. The concentration of financial volume in few and perhaps questionable industries contradicts the bank's development and diffusion goals. The concentration contrasts greatly with Brazilian's [[per capita income]] and its many [[small and medium-sized enterprises]].

==Leadership==
The president of BNDES oversees both subsidiaries of the BNDES group: FINAME and BNDESPAR. Together, the three companies comprise the BNDES System. The BNDES President is appointed by the [[President of Brazil]].

===Presidents ===
{| class="wikitable"
|+Presidents of BNDES<ref>{{Cite web|url=https://www.bndes.gov.br/wps/portal/site/home/quem-somos/nossa-historia|title=Nossa história - BNDES|accessdate=25 February 2024}}</ref>
|-
! Name
! Dates
|-
|-
| [[Ary Frederico Torres]]
| July 1952 - June 1953
|-
| [[Válder Lima Sarmanho]]
| June 1953 - February 1955
|-
| [[Glycon de Paiva Teixeira]]
| March 1955 - February 1956
|-
| [[Lucas Lopes]]
| February 1956 - June 1958
|-
| [[Roberto de Oliveira Campos]]
| August 1958 - July 1959
|-
| [[Lucio Martins Meira]]
| July 1959 - February 1961
|-
| [[José Vicente de Faria Lima]]
| February 1961 - September 1961
|-
| [[Leocádio de Almeida Antunes]]
| September 1961 - June 1963
|-
| [[José Garrido Torres]]
| July 1964 - March 1967
|-
| [[Jayme Magrassi de Sá]]
| March 1967 - October 1970
|-
| [[Marcos Pereira Vianna]]
| October 1970 - March 1979
|-
| [[Luiz Antonio Sande de Oliveira]]
| March 1979 - September 1983
|-
| [[Jorge Lins Freire]]
| September 1983 - October 1984
|-
| [[José Carlos Perdigão Medeiros da Fonseca]]
| October 1984 - March 1985
|-
| [[Dilson Domingos Funaro]]
| March 1985 - August 1985
|-
| [[André Franco Montoro Filho]]
| August 1985 - January 1987
|-
| [[Márcio João de Andrade Fortes]]
| January 1987 - September 1989
|-
| [[Ney Fontes de Melo Távora]]
| October 1989 - March 1990
|-
| [[Eduardo Marco Modiano]]
| March 1990 - October 1992
|-
| [[Antonio Barros de Castro]]
| October 1992 - March 1993
|-
| [[Luiz Carlos Delben Leite]]
| March 1993 - August 1993
|-
| [[Pérsio Arida]]
| September 1993 - January 1995
|-
| [[Edmar Lisboa Bacha]]
| January 1995 - November 1995
|-
| [[Luiz Carlos Mendonça de Barros]]
| November 1995 - April 1998
|-
| [[André Pinheiro de Lara Resende]]
| April 1998 - November 1998
|-
| [[José Pio Borges de Castro Filho]]
| November 1998 - July 1999
|-
| [[Andrea Sandro Calabi]]
| July 1999 - February 2000
|-
| [[Francisco Roberto André Gros]]
| February 2000 - January 2002
|-
| [[Eleazar de Carvalho Filho]]
| January 2002 - January 2003
|-
| [[Carlos Lessa]]
| January 2003 - November 2004
|-
| [[Guido Mantega]]
| November 2004 - March 2006
|-
| [[Demian Fiocca]]
| March 2006 - May 2007
|-
| [[Luciano Coutinho]]
| May 2007 - May 2016
|-
| [[Maria Silvia Bastos Marques]]
| June 2016 - May 2017
|-
| [[Paulo Rabello de Castro]]
| June 2017 - March 2018
|-
| [[Dyogo Oliveira]]
| April 2018 - December 2018
|-
| [[Joaquim Levy]]
| January 2019 - June 2019
|-
| [[Gustavo Montezano]]
| July 2019 - December 2022
|-
| [[Aloizio Mercadante]]
| December 2022 - present
|}

==See also==
* [[List of national development banks]]


==External links==
==External links==
* {{Official website}}
* [http://www.bndes.gov.br/english Brazilian Development Bank (BNDES) official webpage]
* [http://thebrazilbusiness.com/article/banco-nacional-de-desenvolvimento-economico-e-social Introduction to Banco Nacional de Desenvolvimento Econômico e Social in English]
* [http://thebrazilbusiness.com/article/banco-nacional-de-desenvolvimento-economico-e-social Introduction to Banco Nacional de Desenvolvimento Econômico e Social in English]
{{Portal|Banks}}


==References==
==References==
{{Reflist}}
{{Reflist}}

{{authority control}}


{{DEFAULTSORT:Bndes}}
{{DEFAULTSORT:Bndes}}
[[Category:Banks of Brazil]]
[[Category:Companies based in Rio de Janeiro (city)]]
[[Category:Companies based in Rio de Janeiro (state)]]
[[Category:Banks established in 1952]]
[[Category:Banks established in 1952]]
[[Category:1952 establishments in Brazil]]
[[Category:1952 establishments in Brazil]]
[[Category:Government-owned companies of Brazil]]
[[Category:Development finance institutions]]
[[Category:Economic development]]
[[Category:Economic development]]
[[Category:Trade routes]]
[[Category:Trade routes]]
[[Category:National development banks]]
[[Category:Government-owned banks of Brazil]]

Latest revision as of 22:21, 8 July 2024

Banco Nacional de Desenvolvimento Econômico e Social
Company typeGovernment-owned corporation
IndustryFinance and Development
Founded20 June 1952 (20 June 1952)
HeadquartersRio de Janeiro, Brazil
Key people
Aloizio Mercadante (Chairman)
Increase US$ 2 billion (2016)[1]
Total assetsDecrease US$ 272.1 billion (2016)[1]
Number of employees
2,000
ParentGovernment of Brazil
SubsidiariesBNDESPAR
BNDES Ltd.
Agência Especial de Financiamento Industrial
Websitebndes.gov.br
Bank building next to Petrobras headquarters.

The National Bank for Economic and Social Development (Portuguese: Banco Nacional de Desenvolvimento Econômico e Social, abbreviated: BNDES)[2][3][4] is a development bank structured as a federal public company associated with the Ministry of the Economy of Brazil. The stated goal is to provide long-term financing for endeavors that contribute to the country's development. BNDES is one of the largest development banks in the world (after the Chinese Development Bank, which boasts assets of around RMB 7.52 trillion, or around $1.2 tn). Its non-performing loan ratio is also less favorable (2.2%) compared to the CDB's that stands below 1%.

Among the objectives of BNDES are the strengthening of the capital structure of private companies, the development of capital markets, the trading of machines and equipment and the financing of exports.

Since its establishment on June 20, 1952, BNDES has financed large-scale industrial and infrastructure endeavors and has played a significant role in the support of investments in agriculture, commerce, and the service industry, as well as in small- and medium-sized private businesses, even though its focus lies on larger firms.[5] The bank has supported social investments aimed at education and health, family agriculture, basic sanitation and mass transportation.

The bank offers financial support lines and programs to companies of any size and sector that have been set up in the country. The partnership with financial institutions with agencies established around the country facilitates the dissemination of credit, enabling greater access to BNDES's financial services.

BNDES has three integral subsidiaries: FINAME, BNDESPAR, and BNDES Limited. Together, the three companies comprise the BNDES System.[6]

Criticism and controversies

[edit]

BNDES has been accused of operating with larger firms in a corrupt manner[7][8][9] and giving help to big corporations instead of small and medium-sized private businesses.

Operating with statutes of "ethical and environmental principles", in 2012, BNDES approved a 22.5 billion real loan for the construction of the Belo Monte Dam, a project that displaced local communities. The plan was strongly criticized by environmental groups and indigenous populations.[10]

In 2013, ~90% of BNDESPAR investments concentrates in five industries.[7] In recent BNDES investments, lobby irregularities and conflict of interest arrives with JBS S.A.[8][11] OGX/EBX Group,[12] GPA (company),[13] and others.

The bank has been criticized for supporting the international expansion of some private firms.[5]

Economists around the world recognize that Brazil has its own development bank, a key financial organization, bigger than the World Bank. As the Nobel Prize economist J. Stiglitz opinion, "... the BNDES is a huge development bank (...) People don’t realize this, but Brazil has actually shown how a single country can create a very effective development bank (...) that actually promotes real development without all the conditionality and all the trappings around the old institutions".[14] Despite the recognition of financial volume, effective infrastructure and organization, the bank is used by only a few industries. The concentration of financial volume in few and perhaps questionable industries contradicts the bank's development and diffusion goals. The concentration contrasts greatly with Brazilian's per capita income and its many small and medium-sized enterprises.

Leadership

[edit]

The president of BNDES oversees both subsidiaries of the BNDES group: FINAME and BNDESPAR. Together, the three companies comprise the BNDES System. The BNDES President is appointed by the President of Brazil.

Presidents

[edit]
Presidents of BNDES[15]
Name Dates
Ary Frederico Torres July 1952 - June 1953
Válder Lima Sarmanho June 1953 - February 1955
Glycon de Paiva Teixeira March 1955 - February 1956
Lucas Lopes February 1956 - June 1958
Roberto de Oliveira Campos August 1958 - July 1959
Lucio Martins Meira July 1959 - February 1961
José Vicente de Faria Lima February 1961 - September 1961
Leocádio de Almeida Antunes September 1961 - June 1963
José Garrido Torres July 1964 - March 1967
Jayme Magrassi de Sá March 1967 - October 1970
Marcos Pereira Vianna October 1970 - March 1979
Luiz Antonio Sande de Oliveira March 1979 - September 1983
Jorge Lins Freire September 1983 - October 1984
José Carlos Perdigão Medeiros da Fonseca October 1984 - March 1985
Dilson Domingos Funaro March 1985 - August 1985
André Franco Montoro Filho August 1985 - January 1987
Márcio João de Andrade Fortes January 1987 - September 1989
Ney Fontes de Melo Távora October 1989 - March 1990
Eduardo Marco Modiano March 1990 - October 1992
Antonio Barros de Castro October 1992 - March 1993
Luiz Carlos Delben Leite March 1993 - August 1993
Pérsio Arida September 1993 - January 1995
Edmar Lisboa Bacha January 1995 - November 1995
Luiz Carlos Mendonça de Barros November 1995 - April 1998
André Pinheiro de Lara Resende April 1998 - November 1998
José Pio Borges de Castro Filho November 1998 - July 1999
Andrea Sandro Calabi July 1999 - February 2000
Francisco Roberto André Gros February 2000 - January 2002
Eleazar de Carvalho Filho January 2002 - January 2003
Carlos Lessa January 2003 - November 2004
Guido Mantega November 2004 - March 2006
Demian Fiocca March 2006 - May 2007
Luciano Coutinho May 2007 - May 2016
Maria Silvia Bastos Marques June 2016 - May 2017
Paulo Rabello de Castro June 2017 - March 2018
Dyogo Oliveira April 2018 - December 2018
Joaquim Levy January 2019 - June 2019
Gustavo Montezano July 2019 - December 2022
Aloizio Mercadante December 2022 - present

See also

[edit]
[edit]

References

[edit]
  1. ^ a b "Performance in 2016". BNDES. Retrieved 27 November 2017.
  2. ^ "Ao menos cinco governos estudam vender estatais com apoio do BNDES". www.portaldoholanda.com.br (in Brazilian Portuguese). Retrieved 2023-03-29.
  3. ^ G1, Do; Paulo, em São (2016-11-25). "BNDES publica edital para abrir privatização da Lotex". Negócios (in Brazilian Portuguese). Retrieved 2023-03-29.{{cite web}}: CS1 maint: numeric names: authors list (link)
  4. ^ "BNDES publica edital para privatizar loteria das "raspadinhas"". Agência Brasil (in Brazilian Portuguese). 2016-11-25. Retrieved 2023-03-29.
  5. ^ a b Fernando J. Cardim de Carvalho (January 2013). "Relative insulation". D+C Development and Cooperation/ dandc.eu.
  6. ^ "Empresas do Sistema BNDES". Retrieved 25 February 2024.
  7. ^ a b Silva, Maurício Jayme E. (18 March 2013). "Direito e Infraestrutura: Infrastructure: BNDES concentrates 89& of its investments in five industries; three relate to the Brazilian infrastructure". Retrieved 25 February 2024.
  8. ^ a b "BNDES $7.5 billion bet on Friboi", O Estado de S. Paulo, February 15, 2010, www.estadao.com.br/noticias Archived September 2, 2013, at the Wayback Machine
  9. ^ www.bloomberg.com/news/2013-07-03 about Eike Batista's fortune gained with help from BNDES, and BNDES loss.
  10. ^ "Brazil's BNDES approves $10.8 bln loan for Amazon Belo Monte dam". Reuters. November 26, 2012. Archived from the original on 26 July 2014. Retrieved 17 July 2014.
  11. ^ ISTOÉ about "BNDES feeding JBS": "BNDES alimenta a JBS - ISTOÉ Dinheiro". Archived from the original on 2014-02-01. Retrieved 2014-01-19.
  12. ^ infomoney.com.br of 2013 July, about BNDES operations with EBX and CCX, OGX, MMX and MPX.
  13. ^ Veja (magazine) about "new GPA", a business in which the BNDES should not be
  14. ^ Goodman, Amy; González, Juan. "Nobel Economist Joseph Stiglitz Hails New BRICS Bank Challenging U.S.-Dominated World Bank & IMF". www.democracynow.org/2014/7/17/nobel_economist_joseph_stiglitz_hails_new. Retrieved 26 July 2014.
  15. ^ "Nossa história - BNDES". Retrieved 25 February 2024.
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