The Asian Infrastructure Investment Bank (AIIB) and the Banco Nacional de Desenvolvimento Econômico e Social (BNDES) have signed a Memorandum of Understanding (MOU) to deepen cooperation on financing sustainable development and promoting regional cooperation.

The MOU was signed by AIIB Vice President, Investment Operations (Region 2) Konstantin Limitovskiy and BNDES Managing Director Natalia Dias. AIIB and BNDES will explore opportunities for co-financing and co-investment in projects and programs related to infrastructure, trade and connectivity with Asia, climate and other areas of mutual interest. Both institutions will also collaborate on project origination and resource mobilization, in addition to knowledge exchange related to strategies and policies toward the achievement of Sustainable Development Goals. 

“We are thrilled to formalize this MOU with BNDES, a crucial institutional partner in Brazil and beyond,” said AIIB Vice President Limitovskiy. “This partnership will enhance collaboration and support projects and initiatives that drive sustainable development and foster economic growth in Asia, Latin America and beyond. By leveraging our combined expertise and resources, we can effectively contribute to addressing infrastructure challenges and promote economic progress.”

“Brazil holds the highest share of clean electricity among G20 nations, but we need to transform this competitive advantage into the ability to attract new investments and add value to the industrial and productive chains,” said BNDES President Aloizio Mercadante. “The partnership with AIIB is important for our knowledge exchange, expanding opportunities and partnerships that will help Brazil and the world have a greener economy.”

“This Memorandum of Understanding is an important milestone in our international funding strategy,” said BNDES Managing Director Natalia Dias. “It facilitates the presence of a major global financial institution, such as AIIB, to jointly leverage resources for sustainable development in Brazil and Asia.”

About BNDES  

Throughout its 71-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.

BNDES is currently the world's largest financier of renewable energy, according to data from the Bloomberg NEF research organization, with credits totaling around US$35 billion from 2004 to 2022. In 2023, BNDES was recognized as the most transparent federal public institution in Brazil, in a survey conducted by the Association of Members of the Courts of Accounts of Brazil (Atricon), and as one of the world's public development institutions with the greatest variety of methods to monitor and evaluate the effectiveness of its own actions, by The Montreal Group.