Mercadante: BNDES will not compete in the market with the private financial system.
During his inauguration speech, Mercadante said that BNDES's mission is to reduce risks, open new markets, extend deadlines, and develop good projects for private investment.
247 - The president of the National Bank for Economic and Social Development (BNDES), Aloizio Mercadante, said this Monday (6) during his inaugural speechOne of the goals of his administration is to ensure that the state-owned development bank does not have to compete in the market with the private financial system.
“We don’t intend to compete in the market with the private financial system. That’s not the role of BNDES. We need partnerships, and BNDES can contribute to reducing risks, opening new markets, extending deadlines, and developing good projects for private investments such as infrastructure, for example. It needs to be leveraged, strengthened, and BNDES can provide support to improve these essential investments in the country,” he stated.
Regarding investment and sustainability, Mercadante was emphatic in saying that "the planet has no chance of prospering" if the economic and financial system does not change "radically" to confront the environmental catastrophe.
"BNDES needs to support a just transition to a low-carbon economy, as well as promote productive inclusion and smart urban renewal, aiming to build the city of the future. Our development necessarily involves the integration of Latin America. President Lula is absolutely right when he says that BNDES must be a partner bank for development and regional integration," he concluded.
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