DFC and the Brazilian Development Bank (BNDES) Sign Framework to Co-Invest in Critical Sectors

As the United States and Brazil celebrate 200 years of diplomatic relations, DFIs deepen collaboration on economic and strategic imperatives

WASHINGTON, D.C. - The U.S. International Development Finance Corporation and Banco Nacional de Desenvolvimento Econômico e Social (BNDES), the Brazilian Development Bank, today announced the signing of a cooperation framework arrangement (CFA) to enhance and deepen co-investment opportunities in Brazil in the areas of healthcare, innovation, critical infrastructure and connectivity, mining, biofuels, decarbonization and green hydrogen, regenerative agriculture, electromobility batteries and semiconductors, and other critical sectors.

"Over the past year, DFC has been working with BNDES to identify opportunities to partner in Brazil, where foreign direct investment is on the rise in response to Brazil's demand across many sectors," said DFC Vice President and General Counsel Sarah Fandell. "DFC is committed to being a good partner to other development finance institutions, and this CFA will enable our organizations to work together even more closely to drive sustainable economic growth and prosperity through our support for private enterprise."

"We are pleased to formalize this cooperation framework arrangement with DFC. This partnership will enhance collaboration and support projects and initiatives that drive sustainable development and foster economic growth in Brazil. By leveraging our combined expertise and resources, we can effectively contribute to addressing challenges in crucial sectors and promote economic progress," said Executive Director of Planning and Institutional Relations of BNDES Nelson Barbosa. 

The new CFA is anticipated to streamline coordination between the two institutions and build upon DFC and BNDES's existing support for recent projects that support e-mobility across Latin America and reforestation efforts in the Brazilian Amazon.

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About DFC

The U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.  

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About BNDES

Throughout its 72-year history, BNDES has been the main government instrument to promote long-term investments in the Brazilian economy, driving sectors and topics relevant to the country's development, such as economic and social infrastructure, new industrialization, environment, and climate. Through its actions, the Bank works towards reducing inequalities, generating employment and income, and fostering social inclusion, within the necessary transition to a low-carbon economy. BNDES is one of the main financiers of micro, small, and medium-sized enterprises and, in times of crisis, it also acts countercyclically as one of the formulators of solutions for economic growth recovery.