Brazil’s PAC2

Most estimates of the size of the investment required in Brazilian infrastructure are between $100 billion to $130 billion annually over the next 10 years. Federal investment bank BNDES will continue to be the main source of finance, along with other state-owned entities such as Caixa Econômica Federal, Banco do Brasil and Banco do Nordeste. BNDES had total assets of R$472 billion ($281.6 billion) and had total disbursements of R$72.6 billion in the first seven months of 2010. Some 39% of the bank’s disbursements (R$28.2 billion) went to the infrastructure sector.