The National Bank for Economic and Social Development (Portuguese: Banco Nacional de Desenvolvimento Econômico e Social, abbreviated: BNDES) is a development bank structured as a federal public company associated with the Ministry of the Economy of Brazil. The stated goal is to provide long-term financing for endeavors that contribute to the country's development. BNDES is one of the largest development banks in the world (after the Chinese Development Bank, which boasts assets of around RMB 7.52 trillion, or around $1.2 tn). Its non-performing loan ratio is also less favorable (2.2%) compared to the CDB's that stands below 1%.