At a meeting held on June 19 at the headquarters of the BNDES, executives from development banks and funding agencies that comprise the International Development Finance Club (IDFC) issued a statement containing the club’s principles for fostering sustainable development.

The board of directors of the BNDES approved R$ 378 million in financing to construct five wind farms in Bahia and Rio Grande do Norte. The funds will be earmarked for Força Eólica do Brasil, owned by Neoenergia and Iberdrola, which will invest a total of R$ 594.5 million in the project, with total installed capacity of 150 MW.

In keeping with the federal government’s initiative to stimulate investment in the Brazilian economy, the BNDES has reduced interest rates and expanded the scope of its program to finance working capital. Changes were made in the BNDES’ Support Program to Strengthen Employment and Income Generation (BNDES Progeren) aimed at increasing production, employment and salaries.

The BNDES and the Bradesco S/A Bank signed the first contract for financing exports that can be used for the sale of capital goods manufactured in Brazil to African and Latin American countries. The line of credit, up to US$ 200 million, will be transferred by Bradesco’s international agencies and utilized to finance importers of Brazilian machinery and equipment.