1.1 What are the main trends/significant developments in the project finance market in your jurisdiction?
The Brazilian Bank of Economic and Social Development (BNDES) still plays an important role in project financing transactions as the main source to provide financing to such projects in Brazil. Besides BNDES, Banco do Nordeste do Brasil (BNB, a development bank for the Brazilian Northeast), state-owned banks and funds, such as Banco do Brasil, Caixa Econômica Federal and FI-FGTS (an investment fund of the employees severance fund FGTS), as well as some Brazilian and international commercial and investment banks, such as Itaú BBA, Bradesco BBI, BTG Pactual, Santander and others, have also been very active in the financing of projects in Brazil.
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