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Brazil
29.02.24 11:45
Economics

Brazilian authorities launch programme to stimulate investment in sustainable development projects

The Inter-American Development Bank will provide financing for the programme


The Brazilian government is launching Eco Invest Brasil, a programme designed to stimulate foreign investment in sustainable development projects. This is reported by Agencia CMA, a partner of TV BRICS.

The initiative is presented by Brazil's Ministry of Finance and the country's Ministry of Environment.

The programme, part of Brazil's Environmental Transformation Plan, offers solutions to protect funds from risks associated with currency volatility. According to the Federal Government, it will allow companies and investors based in the country to operate in the capital market and raise funds from abroad.

Eco Invest Brasil is in line with one of the three pillars of Brazil's G20 presidency agenda – sustainable development in three dimensions: economic, social and environmental. The Inter-American Development Bank (IDB), a partner in the programme, will provide R$27 billion (US$545 million) in financing.

"The idea is to support the country's development, liquidity, market efficiency and provide foreign exchange protection by acting together, purchasing derivatives on the external market and transferring them to local financial institutions," explained IDB president Ilan Goldfajn.

For Brazilian businesses, the programme will provide new tools that will facilitate access to financing for environmental projects, the publication said.

Photo: IStock

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