Brazil’s development bank lends 30bn dollars at subsidized rate in five months

Wednesday, July 27th 2011 - 04:49 UTC

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Lending by Brazil’s BNDES (National economic and social development bank) totalled 43.5 billion Real (29bn dollars approx) in the first five months of the year, representing a contraction of 6% compared to the same period in 2010, according to a bank’ release. Read full article

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GeoffWard2
So,
$Real 165 b disbursed in the 12 months in total,
$Real 5 b disbursed in the 12 months to SMEs.
That makes
$Real 160 b disbursed in the 12 months to the big boys. 92%.

If the REAL development of a country is measured in the SMEs becoming big boys, how come only some 8% of Brasil's development funds (BNDES) is going to the SMEs?

Why the imperative to give HUGE taxpayer monies ( eg. $Real160 billion) to the already rich and big?
Could it be that skimming is easier?
Could it be that this money can be re-cycled and returned as into 'political money' more easily?

Answers are hard to come by.
Jul 28th, 2011 - 10:55 am - Link - Report abuse 0
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