Opinion: the BNDES in the 21st century

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By André Nassif*

(Opinion) The National Bank for Economic and Social Development (BNDES) has been losing relevance in the financing of strategic investments since 2018, when the costs of its main lines of credit began to be guided by interest determined by the market – by the Long-Term Rate (TLP), replacing the Long-Term Interest Rate (TJLP), which embedded implicit subsidy.

However, its role in the supply of long-term resources, in an amount and . . .

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