BNDES reaches agreement and will return R$23 billion to the Treasury in eight installments by 2030

The resources, according to the bank, are essential to satisfy the institution’s growing demand for credit and disbursements; the deal still depends on TCU approval

RIVER – IL National Bank for Economic and Social Development (BNDES) reported Tuesday the 17th that it had reached an agreement with the Ministry of Finance on the return program to National treasure Payment of the final 23 billion reais owed will have to be made by the development bank in eight installments until 2030 – and no more than once, until November.

“These resources are essential to cope with the increase in credit demand and disbursements by the BNDES and do not affect the primary outcome objectives of the Budget”, underlines the development bank in a note.

BNDES defended that the installment agreement would allow for reimbursement “so that there is no discrepancy between the operations already carried out by the bank and the return of the final values”, but stressed that it still depends on the approval of the Federal Audit Court of Accounts (TCU).

“BNDES and TCU have established a collaborative relationship”, the bank specifies in a note.

The development institute also recalled that of the R$ 440.8 billion collected by the National Treasury, it has already made “the regular payment (debt principal and interest) of R$ 148.97 billion and the early liquidation of R$ 544.30 billion, having already returned to the Treasury a total of R$ 693.17 billion.”

“It is important to underline that the same ruling 56/2021 of the TCU established that the return will take place according to the timetable agreed between the National Treasury and the BNDES,” he announced.

Source: Terra

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