BNDES BRL 5.9 billion support for innovation in 2024 highest since 1995

Since January 2023, BNDES has approved BRL 11.2 billion for innovation projects in Brazilian industry, more than sum over previous five years

Published in Sep 19, 2024 10:15 PM

Com R$ 5,9 bi em 2024, apoio do BNDES à inovação é o maior desde 1995

From September 2023, when it began operating, until August this year, the BNDES Mais Inovação Program approved BRL 8 billion for national companies. Image: Fernando Frazão / Agência Brasil

Between January and August 2024, the Brazilian Development Bank (BNDES) approved BRL 5.9 billion for industrial innovation projects in Brazil, the largest sum in the historical series that began in 1995 for the first eight months of the year. This figure surpasses the total approvals from 2019 to 2023 for that period and more than doubles the BRL 2.9 billion approved in 2011, the second-highest year in the series.

Since January 2023, the Bank's credit approvals for innovation projects have totaled BRL 11.2 billion, more than the sum of the previous five years.

"In eight months, the amount invested by BNDES has already exceeded the whole of 2023, which was BRL 5.3 billion in credits. The approvals were driven by the BNDES Mais Inovação (More Innovation) program, in response to President Lula's determination to promote a technological transformation of the national industry to make it more competitive and capable of creating more skilled jobs in Brazil," said BNDES President Aloizio Mercadante. According to Mercadante, from September 2023, when it started operating, until August this year, the BNDES Mais Inovação program approved BRL 8 billion for national companies.

MSMEs - According to José Luís Gordon, the Bank's Director of Productive Development, Innovation and Foreign Trade, support for innovation for micro, small and medium-sized enterprises in 2024 has been the highest since 1995. "The BRL 2.4 billion approved between January and August this year represents 41% of the total approved by the Bank for innovation, demonstrating the relevance of this issue on the Brazilian MSMEs agenda, as these are the companies that generate the most jobs in our country," he said.

The amount approved for medium enterprises totaled BRL 1.4 billion, representing 56% of the total amount approved for medium enterprises in 2024 and exceeding the total of all approvals from 2015 to 2023, considering the same period. BRL 200 million have been approved for micro-enterprises and BRL 900 million for small enterprises.