The EDB and the Brazilian Development Bank (BNDES) start cooperation to enhance trade relations between Brazil and the Eurasian region
Almaty, 12 December 2023. During the United Nations Climate Change Conference (COP28) taking place in Dubai, UAE, these days, the Eurasian Development Bank (EDB) and the Brazilian Development Bank (BNDES) signed a memorandum of cooperation aimed at fostering cross-border trade ties between Brazil and Eurasian countries. The document was signed by Conrad Albrecht, EDB Managing Director, and Natalia Dias, BNDES Managing Director.
The BNDES is among the world’s largest national development banks, offering long-term financing for production and infrastructure, social and environmental investment, medium and small-sized businesses, innovative and green technology, supporting the private and public sector in Brazil for those purposes.
The EDB and the BNDES plan to collaborate in treasury operations, trade and project finance, as well as ESG, industrial, sustainability, macroeconomics and other types of research.
Under the memorandum, the parties express their intention to promote cooperation, information exchange and knowledge sharing for potential financing of sustainable development and infrastructure projects in countries and regions of mutual interest.
The banks aim to promote the development of private sector companies by facilitating their access to new markets.
“Economic cooperation between the EDB member countries and Brazil is expanding every year. This is happening both bilaterally and through interactions with BRICS. Our Bank intends to foster this cooperation in every possible way. The BNDES’s involvement will balance the interests of all parties and holds the promise of very interesting joint projects,” said Conrad Albrecht.
“The beginning of this collaboration will allow the exchange of experiences with the countries of the Eurasian region, permitting the knowledge about common challenges faced amongst emerging economies, solutions able to be shared and potential common investment, enabling the recognition of synergies for the development of partnerships between those and the Brazilian markets,” said Natália Dias.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries. For more than 17 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. The EDB's charter capital totals US $7 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank’s operations are guided by the UN Sustainable Development Goals and ESG principles.
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