BNDES (National Bank for Economic and Social Development) announced this Wednesday (12th), during the COP30 in Belém, Pará, that it has signed agreements totaling R$ 20.86 billion with development banks from Europe, Japan and Latin America.
This funding will finance sustainable projects in Brazil in the areas of renewable energy, urban mobility, credit for small and medium-sized enterprises and the fight against climate change.
The signing ceremony took up part of the morning and brought together representatives of Brazil’s public banks, the Ministry of Environment and Climate Change, and international financial institutions.
“BNDES is expanding its ability to procure international resources at competitive costs to support Brazil’s ecological transition and sustainable development,” said Aloysio Mercadante, president of the bank.
The largest contribution came from the IDB (Inter-American Development Bank), Latin America and the Caribbean’s main regional development bank, which ratified a package worth US$2.25 billion (R$11.93 billion) to be distributed across three areas.
US$500 million (R2.65 billion) will be allocated to the Climate Fund to finance efforts to mitigate and adapt to climate change. US$1 billion (R$5.3 billion) will be awarded to modernization and innovation projects for micro, small and medium-sized enterprises in the Amazon, Cerrado, Caainga and Pantanal biomes. A further US$750 million (R$3.98 billion) will expand access to credit for small entrepreneurs and stimulate productivity and job creation in the Amazon.
From Europe, a coalition of institutions agreed to release 1 billion euros (6.15 billion reais) for greenhouse gas emissions reduction and climate adaptation. The group includes the German public development bank KfW (Kreditanstalt für Wiederaufbau), the French development agency AFD (Agence Française de Développement), and the Italian public financial institution CDP (Cassa Depositi e Prestiti).
In a separate agreement with KfW, BNDES will finance a further 280 million euros (R$1.72 billion) in renewable energy projects with a focus on urban mobility and solar and wind power.
A further US$200 million (R1.06 billion) will be made available by JBIC, the Japan Bank for International Cooperation, which acts as the official credit institution of the Japanese government aimed at supporting sustainable investments abroad. This funding will finance clean energy, SAF (sustainable aviation fuel) and bioethanol projects, as well as promoting technical cooperation in environmental protection and climate change.
what is an agreement
R$ 11.93 IDB (Inter-American Development Bank) Climate Change Fund, Modernization of MSMEs in the Biome, Access to Credit in the Amazon
6.15 billion reais Consortium of KfW, AFD and CDP to reduce greenhouse gas emissions and adapt to climate
1.72 billion reais KfW funds urban mobility and solar and wind renewable energy projects
1.06 billion reais JBIC for clean energy projects and technical cooperation such as SAF and bioethanol
Source: BNDES
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