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By Guilherme Mattoso
September 2021The Brazilian Development Bank (BNDES) and the Bem Maior Movement (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, environment, and employment and income.
The total value of the fund could still reach R$ 200 million, since BNDES proposed adding R$ 1 for every real invested by private companies.
The minimum investment for the first projects will be R$ 5 million and will exclusively benefit non-profit institutions.
The project's work plan establishes three areas of focus: entrepreneurship, productive inclusion, and education.
This article was originally published on the CNN website.
Image Credit: Press Release/MBM
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