The Development Bank of Espírito Santo (Bandes) of Brazil has announced the deadlines of its public call for proposals for the Funses ESG Development Program, financed with resources from the Sovereign Fund.

Companies with selected investment projects will be supported through the subscription of non-convertible bonds, with the aim of promoting the business environment and the economy of the state of Espírito Santo, with a focus on industry, health, education and energy sectors. The proposed projects must present investments between 4 to 10 million dollars, which may be financed in up to 80% of the total amount, with bonds of up to 10-year term, with a 4-year grace period.

One of the criteria adopted for the selection of projects is that of “regional development”, which evaluates the capacity of the project to generate jobs, the location of the enterprise and the integration with the productive chain. The program includes discounts on interest rates, as an incentive for the implantation of industrial plants and the expansion of enterprises outside the Greater Vitória area.

The proposal submission deadline is July 17^th, 2023.