BNDES creates fund for education, employment and environment

The National Bank for Economic and Social Development (BNDES) and Movimento Bem Maior (MBM) signed a technical cooperation agreement that will use the bank's socio-environmental fund, worth R$100 million, to finance social projects in the areas of education, the environment and employment and income.

The total value of the fund could still reach R$200 million, as the BNDES proposed adding R$1 to each real invested by private companies.

The minimum investment for the first projects will be R$5 million and will exclusively serve non-profit institutions.

The project's work plan establishes three focus areas: entrepreneurship, productive inclusion and education.

Article originally published on the CNN website .