BNDES

Banco Nacional de Desenvolvimento Economico e Social

Type	Government-owned corporation
Industry	Finance and Development
Founded	1952
Headquarters	Rio de Janeiro, Brazil
Key people	Maria Silvia Bastos Marques, (Chairman)
Net income	US$ 5.0 billion (2011)
Total assets	US$ 334.7 billion (2011)
Number of employees	2,000
Website	www.bndes.gov.br

The Brazilian Development Bank, also known as National Bank for Economic and Social Development (Portuguese: Banco Nacional de Desenvolvimento Econômico e Social, abbreviated: BNDES) is a federal public company associated with the Ministry of Development, Industry, and Trade. Its 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. The bank has supported social investments aimed at education and health, family agriculture, basic sanitation and mass transportation.

BNDES considers it fundamentally important, in the execution of its credit policy, to take into account ethical and environmental principles. As such, BNDES is firmly committed to the principles of sustainable development.

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 resources.

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

BNDES operates with lobbying of larger firms, 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 causes dislocation of local communities. The plan has been strongly criticized by environmental groups and indigenous populations.