Created in 1952, Brazil’s Economic and Social Development Bank (BNDES) is Brazil’s primary state bank and one of the largest development banks in the world. With more than $1 trillion in assets, BNDES serves to support projects in infrastructure, agriculture, and energy, as well as spurring social inclusion in Brazil and promoting Brazilian business abroad.
Recently, BNDES has undergone reforms to bring its management and lending practices more in line with market principles and objectives. Gustavo Montezano, President of BNDES, has been integral to the implementation of these reforms and will join us to discuss the current status of BNDES and what we can expect from the bank in the future.
This event is part of the Latin America Initiative. Chatham House would like to thank BTG Pactual, Cairn Energy plc, Diageo plc, Equinor, Fresnillo Management Services, HSBC Holdings plc and Wintershall Dea for their generous support of this initiative.
Gustavo Montezano, President, BNDES
Chair: Dr Christopher Sabatini, Senior Research Fellow for Latin America, US and the Americas Programme, Chatham House