Home Banking BNDES CEO Claims That Focus Will Be On Medium-Sized Companies

BNDES CEO Claims That Focus Will Be On Medium-Sized Companies

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The new CEO of the National Economic and Social Development Bank (BNDES), Joaquim Levy, took office at a ceremony held at headquarters of the institution, in Rio de Janeiro. In a speech to an audience formed mostly by representatives of financial institutions, Levy advocated partnerships with private enterprise and the strengthening of medium-sized enterprises.

There is no country with a strong free enterprise that does not have strong medium-sized companies. In fact, historically, it is a vulnerability of Brazil not to have a sector of medium and small companies, but mainly strong averages and with a capacity to grow and create jobs, to develop and incorporate new technologies, Levy said. For him, this is a challenge and a market for BNDES to act.

Commenting on the need to invest in infrastructure, Levy pointed out that the country’s biggest challenge today in this sector is to have a solid and efficient flow of projects. And this is the role of the BNDES, working with the government, helping in the development of projects, modeling, and then financing not only with our funding but also with private initiative.

The economist also defended that the BNDES portals are more friendly and accessible in the way of presenting the information to the citizen. We are also going to have to reform and rethink our balance sheet. We have to use our financial strengths and assets more intelligently so that we can join forces with the private sector both in infrastructure and in areas for medium-sized and technology which are essential to increase our country’s productivity. 

Upon leaving office, Dyogo Oliveira left a message of optimism for the management of Joaquim Levy and said that Brazil is living a new opportunity to recreate and regain respectability on the international stage. According to Oliveira, the bank, like the country, went through a period of difficulties and storms.

The BNDES will continue to be a great Brazilian institution. Few countries have the honor and pride of having an institution with the technical and operational capacity that BNDES has, said Oliveira. He pointed out that many mistakes attributed to BNDES in the past were not the fault of his staff. The misconceptions that were committed, in their overwhelming majority, almost entirely, were misconceptions of political motivation.