The Ministry of the Environment and Climate Change (MMA) of Brazil and the National Bank for Economic and Social Development (BNDES) signed a new contract for the management of nearly 2 billion dollars resources (in local currency) from the Climate Fund, to be used by BNDES for reimbursable financing of projects aimed at mitigating and adapting to climate change and its effects.

The modalities eligible for funding under the new Climate Fund are divided into 6 lines, which include: i) resilient and sustainable urban development; ii) green industry; iii) transport logistics, public transportation and green mobility; iv) energy transition; v) native forests and hybrid resources; and vi) green services and innovation.