THE Asian Infrastructure Investment Bank (AIIB) will release R$16.7 billion to the National Bank for Economic and Social Development (BNDES) for investments in Brazil. The memorandum of understanding for the provision of resources was signed, this Monday (18), by the two institutions during the G20 Leaders’ Summit, at Marina da Glória, in Rio de Janeiro.
“The objective of the memorandum is to complement the financing of projects aligned with the Climate Fund and the New Growth Acceleration Program (PAC). In the case of the New PAC, the projects must promote economic integration between Brazil and Asia in the sectors of transport infrastructure, energy and digital connectivity, water and sanitation”, informed the BNDES, after the signing.
The presidents of BNDES, Aloizio Mercadante, AIIB, Jin Liqun, the vice-president of AIIB, Konstantin Limitovskiy, and the bank’s director of Planning and Institutional Relations, Nelson Barbosa, were present.
Also in joint action, BNDES and AIIB will strive to finance reconstruction projects in Rio Grande do Sul, which suffered various damages caused by rain this year, and support urban development and social infrastructure programs for the COP- 30, in Belém. The cooperation also aims to mobilize private capital for infrastructure programs.
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“The memorandum signed with the AIIB proves that the BNDES has resumed its mission of promoting the country’s economic and social development and that it has broad capacity to diversify the funding [mobilização de recursos financeiros de terceiros para financiar operações de crédito e empréstimo de instituições financeiras] and seek important international partners to finance sustainable and infrastructure projects that benefit both Brazil and Asia”, said the president of BNDES.
AIIB Vice President K. Limitovskiy stated that the bank is pleased to sign the expanded memorandum with BNDES, which will increase the scope of the existing partnership for co-financing in Brazil. According to him, BNDES is a priority institutional partner of AIIB.
“Our expanded collaboration will allow us to support infrastructure projects and strategic initiatives that drive sustainable development and fuel economic growth in Brazil, Asia and beyond, and we look forward to contributing to COP-30 objectives through co-financing strategic climate projects and especially adaptation in Brazil”, he added.
For BNDES, AIIB “is a multilateral bank focused on the development of Asia, headquartered in the city of Beijing, China, but with members from all over the world, including Brazil”.
