BNDES’s credit for machinery and equipment increases 90% in July

BNDES’s credit for machinery and equipment increases 90% in July

Chamber Articles Category: Economic News Post Date: 08/30/17 Source: BNDES By: BNDES
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The BNDES disbursements for financing machinery and equipment accelerated in July, resulting in a 10% increase in disbursements from Finame, a line of credit for capital goods, in the first seven months of the year. R$11 billion was released in this line between January and July through more than 38.5 thousand operations.Finame disbursed R$2.3 billion in July alone, which represented an increase of almost 90% over the same month last year.

Monthly disbursements of Finame have been accelerating since May, when their first growth (11%) since September 2014 was reported in comparison with the same month in the previous year. Finame’s disbursements In June rose 28% in comparison with June last year. The 90% increase in July confirms the acceleration trend.

Finame approved another R$ 12.6 billion In July, 35% above the R$ 9.3 billion recorded in the same period for 2016. The Finame approvals reflect the short-term investments about to join in the economy, since the contracting and disbursement occur on average in less than two weeks.

Working capital – The financing line of BNDES Progeren working capital reached the R$ 4 billion mark in disbursements this year, a 360% increase over the same period last year. In 12 months the line, which was created to supply the lack of short-term capital of enterprises, disbursed R$ 5.8 billion, helping to preserve jobs and activities amid the adverse economic scenario. This amount is 224% higher than the value loaned in the immediately preceding period (between August 2015 and July 2016). Read Full Article