Rio, 2/27/2003 (Agência Brasil-ABr) - The vice president of the Brazilian Development Bank (Banco Nacional de Desenvolvimento Econômico e Social) (BNDES), Darc da Luz Costa, reports that with a 2003 budget of R$34 billion, the bank will face market demand for around R$43 billion. Costa points out that exactly R$28 billion of its budget has been officially confirmed.

The January BNDES performance report shows that 1,804 operations were carried out, down 7% from the same period in 2001. There was also an elevated drop in consultations at the bank, down 74%. Costa called fewer consultations at the beginning of a new government a normal occurrence while the business community waits for policy definitions. He added that other lower results (loan approvals fell 69%) were a natural consequence of fewer consultations. (AB)