en.Wedoany.com Reported - The Brazilian Development Bank (BNDES) has raised 1 billion reais from the Spanish Official Credit Institute (ICO), specifically earmarked for financing green and sustainable projects in Brazil. BNDES President Aloizio Mercadante stated that this move represents significant progress in the institution's efforts to expand international cooperation channels.
In a statement, Mercadante said that the new operation with ICO strengthens BNDES's strategy of diversifying funding sources through international partners, helping to expand support for investments related to sustainable development in Brazil. The funds will be used to accelerate sustainable infrastructure and renewable energy projects, aligning with the Lula administration's energy transition policy and the global climate and development agenda, while also strengthening bilateral trade with Spain and contributing to job creation and productivity growth.
Nelson Barbosa, BNDES's Director of Planning and Institutional Relations, explained that the external loan will be incorporated into the bank's investment budget to finance operations already provided to end customers. Supported projects must meet the criteria stipulated in the institution's operational policies. According to BNDES, these projects should also align with global development agendas such as the Sustainable Development Goals (SDGs), the European 2030 Strategy, and recommendations from the OECD and the European Commission.
Manuel Illueca, President of ICO, commented that the cooperation between the institutions strengthens bilateral relations. He stated that the new operation with BNDES represents another step in the collaboration between the two institutions and reinforces financial cooperation between Spain and Brazil. Through this agreement, ICO reinforces its role as a reference partner to support the internationalization of Spanish companies, while promoting sustainable projects in Brazil that have a positive environmental impact and involve Spanish companies.
ICO is Spain's national development bank, under the Ministry of Economy, Trade, and Business. The institution supports corporate financing and the internationalization of Spanish companies through instruments such as the ICO International Channel facility, which aims to finance projects with operations abroad in collaboration with local financial institutions. Through this facility, ICO has mobilized over 3.9 billion euros, funding more than 600 projects in markets such as Latin America and the Caribbean, the United States, Turkey, and North Africa. In recent months, signed operations have expanded this project to new markets including Morocco, Turkey, and Portugal.
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