Home Agribusiness BNDES wants funds with future incomes to finance railway “FERROGRAO”

BNDES wants funds with future incomes to finance railway “FERROGRAO”

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The National Bank for Economic and Social Development (BNDES) CEO, Paulo Rabelo de Castro, said that the institution is seeking to avoid making direct investments through BNDESPar, in concessions such as Ferrograo’s railway. This was one of the ideas already promoted by the government to try to obtain the necessary financing for the project, which is estimated at R$ 12.7 billion (US$ 4 billion).

According to Castro, the bank is studying how to create a receipts-fund with resources from the likely users of the railway. He has estimated that, for the nearly R$ 2 billion needed for the company’s capital stock, the amount could be anticipated with a low value of early sale of the agricultural crop.

For the president of the bank, the format can also stimulate a greater participation of entrepreneurs and individuals in the capital of the concessions, avoiding what he called the formation of so-called policy of national champions.

Castro has a candidate-to-president agenda in the state of Mato Grosso, despite keeping denying that status. In Mato Grosso, he participated in events in the Federation of Industry and Agriculture, besides having been the star of the meeting held in Nova Mutum to lobby for the railroad.

In his speeches, Rabelo defended, as the main legacy of the government of President Michel Temer, the structural fall of the interests that, for him, will make investments in infrastructure viable from 2018 on. The speeches were always counterpoints to the policy of high interests, that the defendants called “Rentistas”, to be the true subsidized class of the country.