Brazil development bank signs deal with AIIB for nearly $3 billion in investments

(Reuters) – Brazilian development bank BNDES said on Monday that it has signed a deal with the Asian Infrastructure Investment Bank (AIIB) for the investment of 16.7 billion reais ($2.89 billion) in Latin America’s largest economy.

The deal, which was signed on the sidelines of the G20 summit in Rio de Janeiro, is aimed at funding projects aligned with Brazil’s climate fund and with government policies that seek to boost economic growth.

BNDES said in a statement that investments directed to growth-targeted projects must promote economic integration between Brazil and Asia in the sectors of transport infrastructure, energy connectivity and sanitation, among others.

The cooperation also aims to raise private capital for infrastructure projects, the Brazilian development bank added.

“The memorandum signed with AIIB proves that BNDES has resumed its mission of promoting economic and social development and that it has ample capacity to diversify funding and seek important international partners to finance sustainable and infrastructure projects that benefit both Brazil and Asia,” said BNDES President Aloizio Mercadante.

($1 = 5.7737 reais)

This post is originally published on INVESTING.

  • Related Posts

    Dollar retreats on signs Trump tariffs to be measured

    By Wayne Cole SYDNEY (Reuters) – The dollar nursed broad losses on Tuesday after U.S. President Donald Trump stopped short of imposing new tariffs and reports suggested any new taxes…

    Analysis-Trump faces stiff challenges delivering on his promised ‘Golden Age’

    By Gram Slattery and Luc Cohen WASHINGTON (Reuters) – President Donald Trump faces an arduous task delivering on his Inauguration Day promise of a “Golden Age of America” in the…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Dollar retreats on signs Trump tariffs to be measured

    • January 20, 2025
    Dollar retreats on signs Trump tariffs to be measured

    Analysis-Trump faces stiff challenges delivering on his promised ‘Golden Age’

    • January 20, 2025
    Analysis-Trump faces stiff challenges delivering on his promised ‘Golden Age’

    World reacts to Trump’s plan to withdraw US from Paris climate pact

    • January 20, 2025
    World reacts to Trump’s plan to withdraw US from Paris climate pact

    Factbox-Here’s what we know about Trump’s planned executive orders after swearing-in

    • January 20, 2025
    Factbox-Here’s what we know about Trump’s planned executive orders after swearing-in

    US dollar tumbles as Trump team suggests tariff delay, vows flurry of executive orders

    • January 20, 2025
    US dollar tumbles as Trump team suggests tariff delay, vows flurry of executive orders

    Trump to declare ‘national energy emergency’ to boost fossil fuels, power projects

    • January 20, 2025
    Trump to declare ‘national energy emergency’ to boost fossil fuels, power projects