Brasília, March 30, 2004 (Agência Brasil) - The Brazilian Minister of Development, Luiz Fernando Furlan, announced the new Brazilian industrial policy today. The policy foresees investments on the order of US$ 5.16 billion (R$ 15 billion) this year on programs and activities to stimulate production.

Of this total, US$ 4.98 billion (R$ 14.5 billion) will come from the National Economic and Social Development Bank (BNDES), the Ministry of Science and Technology's Studies and Projects Financing Agency (Finep), and the Bank of Brazil. The rest will be drawn from the budget, as well as from extra-budgetary resources.

The ceremony, which was held at the headquarters of the National Confederation of Industry (CNI), in Brasília, was attended by President Luiz Inácio Lula da Silva and Ministers Antônio Palocci, Finance, Eduardo Campos, Science and Technology, Jaques Wagner, Council of Economic and Social Development, and José Dirceu, Presidential Advisory Staff.

Translator: David Silberstein