Fatos estilizados sobre o financiamento ao setor de água e esgoto no Brasil

Abstract

This article presents stylized facts about the funding of the water and sewage sector in Brazil. Using a dataset of investment projects selected for having credit restrictions lifted by the Federal government, it was possible to analyze the financing pattern and the specific characteristics of the BNDES in financing the sector. The results of the analysis point to a concentration of credit at BNDES and Caixa Econômica Federal, as banks capable of offering better rate conditions and, mainly, loans with longer durations. The projects financed by the BNDES, even when considering the type of borrower, size of the investment and other characteristics, tend to have higher survival rates, as well as being of greater amount and have a shorter execution time, which is justified by the different profiles of the institutions.