Brazil’s public bank approves over BRL 10B for Climate Fund
The National Bank for Economic and Social Development (BNDES) has approved over BRL 10 billion in loans for the National Climate Change Fund (Climate Fund).
The Southeast region had BRL 4.1 billion approved, followed by the Central-West with BRL 2 billion, the Northeast with BRL 1.8 billion, the South with BRL 1.6 billion, and the North with BRL 460 million.
According to the bank, the total regional funding in 2024 was “nearly ten times higher” than in 2022. When comparing the two years, the Northeast received the largest proportional increase, with the BRL 1.8 billion approved in 2024 being 36 times greater than the BRL 51 million allocated in 2022.
In the Northeast, Climate Fund resources will be used to expand renewable energy projects, including wind and solar, contributing an additional 450 megawatts to the National Interconnected System.
“The Climate Fund enables us to strengthen our strategy of advancing the green economy, decarbonization, and environmental sustainability, particularly in the face of rising global climate denialism,” said BNDES President Aloizio Mercadante during the presentation of the results.
The Climate Fund is considered one of the main national funds for mitigating and adapting to the effects of climate change on the planet.
