BNDES to boost financing for sugar, ethanol sector by 20% in 2013

According to Julio Raimundo, director of Brazil’s Banco Nacional de Desenvolvimento Economico e Social (BNDES), the bank has set a goal to raise loans to local traditional sugar and ethanol mills in 2013 by 20% over that of last year. This would bring 2013 financing to the sector to BRL5 billion (US$2.4 billion). BRL1.5 billion (US$762.40 million) is earmarked for second-generation ethanol production projects in 2013.
 
The Brazil-based biofuel firm GraalBio Investimentos SA revealed that the the bank’s investment arm, BNDESPar, has purchased a 15% stake in its equity capital for BRL600 million (US$305 million). (January 22, 2013)