BNDES pushes the canoe.

Now, Brazilian canoeing has received an extra boost. The National Bank for Economic and Social Development (BNDES) announced this week that it will inject approximately R$ 10 million into the sport this season. This amount is more than triple the resources available in the coffers of the Brazilian Canoeing Confederation (CBC) last year – around R$ 2,7 million – and should guarantee a significant leap in quality for the sport. The decision stems from concerns about the performance of the host country of the 2016 Olympics.

The funds will be released through the Sports Incentive Law, which allows for income tax deductions of up to 1% for companies and 6% for individuals who donate resources or sponsor sports and para-sports. Given this, the president of BNDES, Luciano Coutinho, estimates that the institution will be able to raise at least R$ 10 million per season for canoeing.

The bank took almost a year to decide where to allocate the resources. "Canoeing is an emerging sport in Brazil, which already has infrastructure and great potential. Despite this, it was lacking sponsorship," Coutinho points out. For him, concentrating support on a single sporting activity is consistent with the positioning of other state-owned companies on the same topic. This is the case, for example, of Banco do Brasil (BB), which concentrates resources on the development of volleyball in the country.

Coutinho does not rule out the possibility of the bank choosing other sporting activities to support in the future. "But, for now, we intend to concentrate our efforts on canoeing. Not only for the performance of this activity in the Olympics, but for the consistent and continuous development of the sport in the country," he stated, adding that Brazil currently has 104 canoeing associations.

Orlando Silva, the Minister of Sports, believes that the BNDES (Brazilian Development Bank) can help increase fundraising through the Sports Law. The sector received R$ 60 million in 2007, R$ 70 million in 2008, and R$ 120 million in 2009 with the aid of this law, and is expected to close 2010 with around R$ 200 million in funding.

Billing

The "boost" provided by BNDES increases the responsibility of Brazilian rowers, according to themselves. "Without a doubt, we will be held even more accountable. With an investment of this magnitude, results will have to appear one way or another. But I trust in the potential of our athletes," declared the supervisor of the Brazilian National Team and former athlete, Sebastian Cuattrin.

The Brazilian Canoeing Confederation still doesn't know how the investments will be allocated, but the priority is improving infrastructure. "More than money in their pockets, what's important for Brazilian athletes is having quality equipment to train with. That undoubtedly makes all the difference. And we will invest in boats and equipment," promises Cuattrin.

Part of the sponsorship funds must be invested in the Center of Excellence for the sport, located in Parque Estoril, in São Bernardo (SP). It is there that the main Brazilian sprint canoeists train, who are great medal hopes for this year's Pan American Games and the 2016 Olympics.