Brazil has $1.3 bi to invest in sustainable infrastructure

A deal has been inked with the Inter-American Development Bank

Published in 19/06/2022 - 11:40 By EBC - Brasília

The Brazilian government has $1.3 billion to invest in sustainable infrastructure projects. The amount comes as part of an agreement signed by the country’s Ministry of Infrastructure and the Inter-American Development Bank (IDB), during the Brazil Investment Forum, in São Paulo last week.

The information was confirmed by Brazilian Infrastructure Minister Marcelo Sampaio, who was on program Brasil em Pauta, on TV Brasil Sunday. “The agreement with the IDB aims to build a framework for this agenda and slash greenhouse gas emissions, bringing balance to this transport network. It’s a donation from the IDB, of approximately $1.3 billion.”

During the two-day event, organized by the IDB in partnership with Brazil’s export agency Apex-Brasil, representatives from the Brazilian government worked to attract more investment through high-level meetings with international investors.

According to the United Nations Conference on Trade and Development, Brazil received $50.367 billion last year in direct foreign investment—money that goes directly into productive activity.

The issue was also discussed by delegations from Switzerland and Canada, Minister Sampaio pointed out. “It’s an agenda we’re taking very seriously in our projects, especially in infrastructure. Our projects today are now all eligible to receive green investment.”

Brazil in the OECD

Infrastructure Minister Marcelo Sampaio also talked about Brazil's admission into the Organization for Economic Cooperation and Development (OECD). The minister argued that the move should serve as a hallmark of quality, demonstrating the improvement of the country's business environment.

Sampaio noted that major investments around the world can only be sent to OECD member countries. “I was in Portugal late last year and we met with Brisa, the concessionaire operating most of road concessions in Portugal. They want to operate in Brazil, but, unfortunately, they said, ‘We can only enter countries that are members of the OECD.’”

The OECD was created in 1961. Headquartered in Paris, the bloc has 38 members, among which rich as well as developing countries seeking to bring their legislation in line with sustainable economic growth.

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