BNDES Brazil Sovereign 3 draws R$12B in credit requests in first week

BNDES received R$12 billion in credit requests under the Brazil Sovereign 3 program within a week of reopening, with R$2.2 billion approved so far. R$814 million of approvals target companies hit by US tariffs, signaling policy response to trade pressure. Demand suggests strong uptake, but approval pace and final disbursement remain uncertain.