BNDES targets loans of US$11.7bn this yr.

Brazil's national development bank BNDES expects its loan portfolio this year to total 34bn reais (US$11.7bn), in line with the bank's expectations at the beginning of the year, the BNDES said in a statement. Loans between January and October this year reached only 22.2bn reais, 25% less than funds shelled out for the same year-ago period, as a consequence of a sluggish Brazilian economy this year, the statement said. However the amount of requested loans in September and October increased by 29.4%, to 8.8bn reais, reflecting an upturn in the economy. "The solicitations indicate a resurgence of corporate disposition to make long-term investments in Brazil," the bank said.