name: Brazilian Development Bank
The Brazilian Development Bank (BNDES) is also known as the National Bank for Economic and Social Development of Brazil. It is a federally listed company associated with the Ministry of Development, Industry and Trade of Brazil.
The goal of the Brazilian Development Bank is to provide long-term financing for national development. It is one of the largest development banks in the world, second only to the China Development Bank. The Brazilian Development Bank is responsible for strengthening the capital structure of private companies, capital market development, machinery and equipment transactions and export financing.
Since its establishment on June 20, 1952, the Brazilian Development Bank has funded large-scale industrial and infrastructure work, and has played an important role in supporting agriculture, commerce and service industries, and small and medium-sized enterprises investment. The bank also supports targeted social investments in education and health, family farming, basic health and public transportation.
The Brazilian Development Bank has three subsidiaries: FINAME, BNDESPAR and BNDES Ltd. These three companies together form the Brazilian Development Bank System.
The Brazilian Development Bank is headquartered in Rio de Janeiro, Brazil, and is chaired by Maria Sylvia Bastos Marquez, with a total of 2,000 employees. In 2011, the bank’s net income was US$5 billion and total assets were US$334.7 billion.
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