With the aim of improving and deepening joint investment opportunities in Brazil, the National Bank for Economic and Social Development (BNDES) and the US International Development Finance Corporation (DFC), the United States’ development bank, signed a framework cooperation agreement. The announcement was made this Monday (28), in Washington, DC.
Among the areas that will benefit are: health, innovation, critical infrastructure and connectivity, mining, biofuels, decarbonization and green hydrogen, regenerative agriculture, batteries and electromobility semiconductors. The announcement was made this Monday, in Washington, DC.
DFC vice president and general counsel, Sarah Fandell, stated that the institution’s purpose is to have good partnerships with other development financial institutions. For the vice president, the agreement will allow organizations to work together to further strengthen and boost sustainable economic growth and prosperity through support for the private sector.
Sarah Fandell revealed that from the beginning of this year, DFC began working with BNDES. “Since opening our first Latin American office in São Paulo earlier this year, DFC has worked closely with BNDES to mobilize investment across Brazil, where foreign direct investment is increasing in response to Brazilian demand in various sectors,” he said in a note released by BNDES and the United States Embassy in Brazil.
Director of Planning and Institutional Relations at BNDES, Nelson Barbosa. Photo:Tomaz Silva/Agência Brasil
In the view of the director of Planning and Institutional Relations at BNDES, Nelson Barbosa, the experiences and resources of the two institutions will reinforce economic progress in relevant sectors. “We are pleased to formalize this Cooperation Agreement with the DFC. This partnership will strengthen collaboration and support projects and initiatives that drive sustainable development and promote economic growth in Brazil,” said Barbosa.
“By combining our expertise and resources, we can effectively contribute to facing challenges in crucial sectors and promoting economic progress”, added the director in the text released by the institution.
“The structure for mutual cooperation outlined by the cooperation framework agreement should optimize coordination and take advantage of the growing collaboration of DFC and BNDES in projects that promote sustainable development, prosperity and support for strategic sectors”, informed the BNDES.
In its projects, the United States Development Bank promotes partnerships with the private sector with the intention of “financing solutions to the most critical challenges facing the developing world today”. The investments are allocated to sectors such as energy, health, infrastructure, agriculture and small businesses and financial services.
According to BNDES, DFC’s investments “follow high standards and respect the environment, human rights and workers’ rights”.
Also in a note, the United States Embassy in Brazil reported that “the new Cooperation Agreement should optimize coordination and take advantage of the growing collaboration of DFC and BNDES in recent projects to support electromobility and reforestation efforts in the Brazilian Amazon”.
