Discussion Paper No. 163, “Three Decades – BNDES After Stabilization: 1994–2023”, authored by BNDES economists Fabio Giambiagi, Gilberto Borça Jr., and Letícia Magalhães, presents a set of financial and operational data from the Bank covering the period from 1994 (in some cases) to 2023. In addition to helping readers better understand BNDES’s performance, the study aims to serve as another vehicle for institutional accountability.