The BNDES (National Bank for Economic and Social Development) announced on Wednesday (12), during COP30, in Belém, Pará, the signing of agreements worth a total of R$ 20.86 billion with development banks in Europe, Japan and Latin America.
These resources will finance sustainable projects in Brazil in the areas of renewable energy, urban mobility, credit for small businesses and measures to combat climate change.
The signing ceremony took part of the morning and was attended by representatives of the Brazilian Public Bank, representatives of the Ministry of Environment and Climate Change and international financial institutions.
“BNDES is expanding its capacity to raise international resources at competitive costs to support Brazil’s environmental transition and sustainable development,” stressed the Bank’s President, Aloisio Mercadante.
The largest contribution came from the Inter-American Development Bank, the main regional development bank in Latin America and the Caribbean, which approved a package worth US$2.25 billion (R$11.93 billion) spread across three fronts.
US$500 million (R$2.65 billion) will be allocated to the Climate Fund to finance climate change mitigation and adaptation initiatives. Modernization and innovation projects for small and medium-sized enterprises in the Amazon, Cerrado, Caatinga and Pantal regions will receive US$1 billion (R$5.3 billion). Another US$750 million (R$3.98 billion) will expand access to credit for small entrepreneurs, stimulate productivity and job creation in the Amazon region.
From Europe, it was agreed to launch 1 billion euros (6.15 billion Brazilian reals) to reduce greenhouse gas emissions and adapt to the climate by a group of institutions. The group includes KfW (Kreditanstalt für Wiederaufbau), a public development bank in Germany, AFD, a French development agency, and CDP (Cassa Depositi e Prestiti), a public financial institution in Italy.
In another agreement with KfW, the bank will also receive an additional 280 million euros (R$1.72 billion) to finance urban mobility and renewable energy projects, with a focus on solar and wind power generation.
Another $200 million (R$1.06 billion) will be provided by the Japan Bank for International Cooperation, which acts as an official credit agency for the Japanese government aimed at supporting sustainable investments abroad. These resources will finance clean energy, sustainable aviation fuel, and bioethanol projects, in addition to enhancing technical cooperation in the field of environmental protection and climate change.
What are the agreements?
R$11.93 IDB (Inter-American Development Bank) Climate Fund, modernization of small and micro enterprises in biomes, and access to credit in the Amazon region
6.15 billion Brazilian reals A consortium between KfW, AFD and CDP to reduce greenhouse gas emissions and adapt to the climate
1.72 billion Brazilian reals KfW finances urban mobility and renewable solar and wind energy projects
1.06 billion Brazilian reals Japan Bank for international cooperation for clean energy projects such as SAF and bioethanol, as well as technical cooperation
Source: Bendis
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