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Montezano assumes presidency of the BNDES and promises to return resources to the National Treasury


President attends the solemnity; Paulo Guedes highlights that bank will help states and municipalities with basic sanitation

At the inauguration ceremony of the new president of the National Development and Sustainability Bank (BDNES), Gustavo Montezano, on Tuesday (16/7), in the Planalto Palace, the president of the Republic, Jair Bolsonaro, stated that the bank should serve citizens, while maintaining the principle of transparency. "We want a transparent BNDES, a BNDES serving the people, these people to whom we must have a terrible loyalty, which makes us proud," he said,

Bolsonaro also stressed that Brazil will be included in a new international level. "Let's put Brazil where he always deserved to be. I feel that Brazil will reach a prominent place on the international stage, "he said.

The Minister of Economy, Paulo Guedes, listed the priorities that should be defined by the bank from this moment. According to him, BNDES is expected to repay the loans granted by the Union and will help accelerate the Partnership and Investment Program (PPI) and privatization. 

"Let's fire the bank. Return the money to the Union, to reduce its indebtedness and lower interest in the free segment. Money has to be down to everyone. We want to accelerate PPI's. We want to accelerate privatization, "said the minister.

Guedes also said that another role that the BNDES should play is to help states and municipalities in basic sanitation programs and their financial restructuring. "There are 40,000 children who die in Brazil due to lack of sanitation. The average life in the Northeast is lower because of infant mortality because sanitation is lacking, "said Guedes.

Transparency and goals

Gustavo Montezano holds a degree in engineering from the Instituto Militar de Engenharia (IME) and a master's degree in finance from the Brazilian Institute of Capital Markets (Ibmec). He has 17 years of career in the financial market. He replaces Joaquim Levy, who stepped down in early June.

In his inaugural address, the new BNDES president said that transparency will guide his administration. And he cited the bank's goals for the next six months. The first will be the opening of the bank's "black box," followed by the sale of speculative shares on the Stock Exchange - the bank still has something in the order of R $ 100 billion - and the return of funds of R $ 126 billion to the National Treasury , still this year. 

"We will improve the quality of services for the Brazilian State and make a three-year plan, with budget, scale and goals. From now on the BNDES will be less bank and more development. The focus will not be the profit, it will be financial sustainability, "he said.