SAO PAULO, March 19 (Reuters) - Loan disbursements at Brazil’s state development bank, BNDES, the largest source of long-term corporate credit in the country, fell 1 percent last year as demand for credit fell alongside flagging capital spending.
In a statement released on Thursday, Rio de Janeiro-based BNDES said disbursements reached 187.8 billion reais ($58.8 billion) in 2014. The bank had estimated disbursements between 185 billion and 190 billion reais.
Borrowing for infrastructure investment was the highest, accounting for about 69 billion reais of BNDES loan disbursements last year, the statement said.
$1 = 3.301 Brazilian reais Reporting by Guillermo Parra-Bernal; Editing by Alan Crosby