The Future of Development Banks
The Future of Development Banks
The Case of Brazil’s BNDES
Despite its recent socioeconomic achievements, Brazil faces daunting challenges related to its outdated and to a certain degree dysfunctional infrastructure. If Brazil aims to achieve sustained inclusive growth in the future, and fulfil its potential as an emerging economy, it must find ways to fill its significant sustainable infrastructure and logistics gaps. This chapter analyses the recent role that Brazil’s national development bank, BNDES, has played in promoting infrastructure and logistics (I&L) investments. It argues that BNDES could, and should, play a critical role in developing a much-needed I&L investment financing architecture by fostering project development capacities, and financing, leveraging, and crowding-in private resource for the sector.
Keywords: Brazil, sustainable development, national development bank, development finance architecture, infrastructure finance
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