Brazil BNDES plans more financing for sugar, ethanol sector in 2013

(SeeNews) - Jan 22, 2013 - Brazil's National Social and Economic Development Bank (BNDES) will strive to boost by about 20% year-on-year its loans to local traditional sugar and ethanol producing mills in 2013, Julio Raimundo, a director at the bank, stated yesterday.
Thus, financing disbursed to the sector is seen to rise to BRL 5 billion (USD 2.4bn/EUR 1.8bn) this year from BRL 4.1 billion in 2012.
In 2011, resources handed out to sector players totalled BRL 5.9 billion.
BNDES has earmarked as much as BRL 1.5 billion for second-generation ethanol production projects alone in 2013, Raimundo also noted.
Yesterday, Brazil-based biofuel firm GraalBio Investimentos SA revealed that the bank's investment arm BNDESPar had bought a 15% stake in its equity capital for BRL 600 million.

(BRL 1 = USD 0.49/EUR 0.367)

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