BNDES broadens its financing options
The Brazilian Development Bank (BNDES) has announced changes in its financing criteria, now offering support to midcaps, not just small and medium companies (SMEs), through the Linha BNDES Exim Pré-embarque. This program aims to bolster the domestic production of goods destined for global markets.
The new program offers export loans at BNDES' long-term interest rate, currently 7.5%. Companies with a turnover of up to R$300mn (US$92mn) can now access these financing opportunities. The bank's maximum participation has been modified to reach 70% of total financing.
These changes are part of an operational policy review aimed at improving the utilization of BNDES' resources, prioritising sectors and business segments most in need of financial support in Brazil. The review is intended to address concerns about the bank's past funding decisions, including the controversial Mariel Port loan in Cuba, which has been a subject of ongoing scrutiny.
The Mariel Port development loan is one of several loans extended by BNDES to foreign countries, leading to significant outstanding loans and debt issues. The bank's accumulated debt exceeds 2 billion reais, with Cuba's debt reaching approximately $742 million as of early 2025.
Regarding the leadership change at BNDES, Luciano Coutinho was replaced as president, but the specific identity of his successor is not publicly disclosed at this time. The operational policy review is ongoing, and it remains to be seen how it will impact BNDES' future funding practices and priorities.
It is essential to note that the review is taking place amidst scrutiny of BNDES for funding the development of Cuba's Mariel Port, a loan that has not benefited Brazilian exporters. The bank's role in such projects has raised questions about the effectiveness and transparency of its funding decisions.
As the situation continues to evolve, it is recommended that interested parties consult official BNDES communications or recent reputable news sources for the latest updates on the bank's leadership and operational policies.
Trade finance is now available to midcap companies through BNDES' Linha BNDES Exim Pré-embarque program, which aims to boost the domestic production of goods for global markets. This program offers export loans at BNDES' long-term interest rate of 7.5%, and companies with a turnover of up to R$300mn (US$92mn) can access these financing opportunities, with the bank's maximum participation reaching 70% of total financing. These changes are part of an operational policy review focused on improving the utilization of BNDES' resources and prioritizing business segments most in need of financial support in Brazil, while addressing concerns about past funding decisions, including the controversial Mariel Port loan in Cuba.
