Banco do Brasil disbursements for import financing hit US$4.5bn in November 2006, meaning a 80% growth over the same period one year earlier.
The expansion comes as a result of strong international liquidity, a large supply of financing lines and lower cost of these lines, says Nilo Jos Panazzolo, foreign trade director at Banco do Brasil.
Brazil’s appreciated currency and the resumption of economic and investment growth has helped too, he comments.
To Panazzolo, the bumper year seen for import finance was fuelled especially by Banco do Brasil’s strategy of catering to every demand of its clients, with flexibility on terms, costs, amounts and payment possibilities.
Import financing terms vary between 20 days and 10 years, and the sectors utilising it more often are petrochemicals, fertilizers and steelmaking, he states.