BNDES is a huge development bank (...) People don’t realize this, but Brazil has actually shown how a single country can create a very effective development bank (...) that actually promotes real development without all the conditionality and all the trappings around the old institutions". Despite the recognition of financial volume, effective infrastructure and organization, the bank is used by only a few industries. The concentration of financial volume in few and perhaps questionable industries contradicts the bank's development and diffusion goals. The concentration contrasts greatly with Brazilian's per capita income and its many small and medium-sized enterprises. External links Introduction to Banco Nacional de Desenvolvimento Econômico e Social in English References Banks of Brazil Companies based in Rio de Janeiro (city) Banks established in 1952 1952 establishments in Brazil Government-owned companies of Brazil Development finance institutions Economic development Trade routes National development banks