Características das operações de crédito do BNDES em Governador Valadares-MG (2002-2024)

Abstract

Public credit plays an important role in economic development strategies in Brazil. The Brazilian Development Bank (Banco Nacional de Desenvolvimento Econômico e Social – BNDES) is the main development agent for micro, small, and medium-sized enterprises (MSMEs) in municipalities that face historical difficulties in accessing long-term credit, such as Governador Valadares-MG. This study investigates the characteristics of BNDES credit operations in the municipality between 2002 and 2024. Data from automatic indirect operations of BNDES were used, that is, loans granted to companies through accredited financial agents, without the need for direct analysis by the bank. The results show that most operations in the municipality of Governador Valadares-MG were concentrated in micro and small enterprises. However, from 2016 onwards, there was a growing concentration in higher average amounts, which benefited larger companies. The BNDES Finame credit line stands out for being associated with larger disbursements, including among microenterprises, reflecting its focus on productive modernization.