The Inter-American Development Bank (IDB) and the National Bank for Economic and Social Development (BNDES) of Brazil have signed a letter of intent to move forward with PRO-AMAZONÍA, a program that aims to promote sustainable development in the Amazon region, focusing on reducing regional inequalities by supporting small businesses and entrepreneurs.

The program will support the financing for modernization, expansion, acquisition of goods and equipment, and innovation of micro, small and medium Enterprises (MSMEs) in the region. In addition, it will include incentives to adopt sustainable practices, contributing to creating jobs and building a balanced and environmentally responsible economy in the region.

The commitment includes a 750 million dollars loan by IDB, and 150 million dollars from BNDES, which will implement the program through accredited financial agents. Individual loans must comply with IDB and BNDES environmental and social safeguard policies.