Banco de Desarrollo Productivo S.A.M. (BDP S.A.M.)

What it is

BDP is Bolivia’s only development bank, offering flexible and targeted financing alongside technical assistance to promote inclusive productive development. It began operations in 1996 — then called NAFIBO — as a second-floor lender channelling funds from international financial bodies and the national treasury, and it also operates as a trustee and investment bank through its subsidiary BDP Sociedad de Titularización S.A.

Under Supreme Decree No. 28999 of 1 January 2007, NAFIBO was renamed Banco de Desarrollo Productivo S.A.M., becoming the financial arm of the central government under the National Development Plan, with a mandate to promote and finance productive sectors on terms of solidarity and development support. The bank now operates across six strategic lines: direct lending (Primer Piso), wholesale/on-lending (Segundo Piso), trust administration (Fideicomisos), technical assistance, sustainable finance, and what it calls productive intelligence — data analytics for farmers and small producers.

Who owns it

Ownership is split between the Bolivian State, which holds 80%, and CAF – the Development Bank of Latin America – which holds the remaining 20%. That structure makes BDP simultaneously a creature of Bolivian public policy and a partner of the continent’s main multilateral lender; there is no private free float.

It is constituted as a mixed-economy company (sociedad anónima mixta) under the Commercial Code and operates under the supervision of Bolivia’s financial-system regulator, ASFI.

Who runs it

In March 2026, the Minister of Economy posesionó Jorge Marcelo Velasco Tudela as the new board chair (Presidente del Directorio), framing the appointment as part of the government’s strategy to consolidate BDP as a key pillar of inclusive growth. Velasco is an industrial engineer from the Universidad Mayor de San Andrés with postgraduate studies in the United States and Europe, and more than 40 years of experience in the financial system.

The day-to-day executive is General Manager (CEO equivalent) Ariel Zabala, confirmed in that role through the 2024 governance report and public statements. The finance function is led by Fernando Felipe Bellott Llano as Gerente de Gestión Financiera (CFO equivalent), as disclosed in the bank’s 2024 Corporate Governance Report.

The money, in plain words

BDP reported strong portfolio growth in 2024: combining its three main lending lines — direct credits, wholesale lending, and trust-administered funds — the total loan book reached BOB 7,292 million (about USD 740 million at today’s rate), an 8.7% increase over 2023 (our conversion at 1 USD = 9.85 BOB). At December 2023, total assets stood at USD 1,366.8 million, giving BDP a 4.3% share of the Bolivian banking system by assets.

The bank’s 2024 public accountability report highlighted growing profits and a non-performing loan ratio below the national financial-system average — meaning fewer borrowers are failing to repay than at peer banks. Its credit rating from AESA Ratings is AAA with a Negative Outlook, signifying very high capacity to meet its obligations.

Full profit-and-loss figures in bolivianos are published in the annual financial statements on the company’s website but were not accessible in parsed form at the time of writing.

What it is doing now

A landmark move in 2024: BDP became the first institution in Bolivia to receive accreditation from the Green Climate Fund (GCF), qualifying it to raise and manage up to USD 250 million in concessional resources for climate adaptation and mitigation projects. That opens a direct channel to international climate money that no other Bolivian bank has.

Alongside this, the bank ended 2024 with a total loan book of BOB 7,292 million (US$740 mn) and 198,759 clients — 7.7% more than the year before.

Through the SIBOLIVIA programme — a government-backed trust fund offering credits at 0.5% per year, the lowest rate in Bolivian banking history — BDP disbursed BOB 754 million (US$77 mn) to 7,045 producers across all nine departments by November 2024, mostly micro and small enterprises. The bank is also rolling out its “Emprende Joven” youth credit line and building a Centre of Productive Intelligence — a data and agro-climate analytics platform for borrowers.

What to watch

• Full 2024 financials. The audited annual financial statements are listed on bdp.com.bo; once accessible, revenue and net profit in bolivianos will confirm whether margin held alongside portfolio growth.
• New board leadership. The March 2026 appointment of Jorge Marcelo Velasco Tudela as board chair signals a fresh strategic cycle; watch for shifts in lending priorities or funding structure.
• Green Climate Fund deployment. The GCF accreditation for projects up to USD 250 million is a potential step-change in the bank’s balance sheet and its role in Bolivia’s energy and climate transition.
• Bolivia’s foreign-exchange strain. Bolivia has faced pressure on its USD reserves; a state-linked bank that borrows internationally and lends domestically in bolivianos carries currency and liquidity exposure worth monitoring.
• Credit quality. With 8.7% portfolio growth in a constrained economy, keeping the non-performing loan ratio below the system average is the central financial test for 2025.

This is news, not investment advice.