The National Bank for Economic and Social Development (BNDES) from Brazil has announced the signing of contracts and letters of intent with the China Development Bank (CDB) and the Asian Infrastructure Investment Bank (AIIB) for a total amount equivalent to 1.7 billion dollars, with the purpose of financing sustainable projects.

Firstly, the CBD will grant the BNDES a 10-year loan for an amount equivalent to approximately 800 million dollars to finance infrastructure and industrial projects in Brazil, in the areas of electricity, manufacturing, agriculture, mining, water, climate change and green development. Additionally, the CBD undertakes to assess a 3-year credit line aimed at supporting BNDES’ investments.

On the other hand, the BNDES and the AIIB signed a letter of intent with the objective of accelerating and scaling the fight against global warming, with potential investments worth 250 million dollars in renewable energies, logistics and sustainable urban mobility, among others.