The loans have a term of up to 24 years. Fernando Frazão/Agência Brasil File
The New Development Bank, known as Banco dos Brics, and the National Bank for Economic and Social Development (BNDES) signed loan agreements worth $1.7 billion (approximately R$8.5 billion) this Wednesday (6). . The foreign institution chaired by Dilma Rousseff will allocate the amounts to BNDES for investments in projects related to sustainability in Brazil.
At the event in Rio de Janeiro, in addition to Dilma, there were also present the Presidents of the Republic, Luiz Inácio Lula da Silva, and of the BNDES, Aloizio Mercadante, as well as the Vice President and Minister of Development, Industry, Trade and Services, Geraldo Alckmin, the mayor of Rio de Janeiro, Eduardo Paes (PSD), the former president of Uruguay Pepe Mujica and the former president of Colombia Ernesto Samper Pizano.
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The transfers from Banco dos Brics to BNDES have already been approved by the Senate and are ready for use. Under the contracts, around R$6 billion will be used for sustainable infrastructure investments under the Growth Acceleration Program (PAC), Mercadante reported.
The remaining R$2.5 billion will go to initiatives to combat climate change. BNDES will be able to use the loans to finance both the public and private sectors.
The R$6 billion from the PAC has a maturity of 24 years, with 30% expected to be used by BNDES to finance debt securities (debentures) in previously defined sectors. These values include initiatives in the areas of renewable energy, transport and logistics, sanitation, urban mobility, information and communication technologies and social infrastructure, mainly education and health.
The R$2.5 billion loan to combat climate change has a term of 11 years and six months. The focus is on areas such as sustainable urban mobility, solid waste, renewable energy, efficient equipment, sustainable cities and native forests.