The Brazilian Development Bank (BNDES) and the Export-Import Bank of China (CEXIM) are structuring an investment fund with a target size of up to US$1 billion (approximately R$5.7 billion) for investment in projects in Brazil. The intention is for CEXIM to contribute US$ 600 million and BNDES to contribute around US$ 400 million to the fund, which is expected to start operating in 2026.

The fund's objective is to promote sustainable bilateral development between Brazil and China and contribute to ecological energy transition and green development, infrastructure, bioeconomy and trade, mining, agriculture, digital economy, artificial intelligence, among other sectors.

According to the director of Planning and Institutional Relations at BNDES, Nelson Barbosa, the instrument is a milestone as it is the first bilateral fund between a Brazilian institution and a Chinese institution, operated by investments basically in Brazilian reais. “This new partnership between the two institutions will strengthen the commercial and economic relationship between Brazil and China,” he added.

(Source: BNDES News Agency, on October 2)