Banco Nacional de Desenvolvimento Econômico e Social (BNDES) and the Export-Import Bank of China (CEXIM) have formalized a Memorandum of Understanding (MoU) aimed at enhancing co-investment opportunities between Brazil and China. The agreement, signed in late December, outlines plans for joint studies to establish an investment fund with a target size of up to US$ 1 billion.
This collaboration is expected to foster new investment opportunities while strengthening the commercial and economic ties between the two nations.
"BNDES has been the main government instrument to promote long-term investments in the Brazilian economy," according to a statement from BNDES. The bank focuses on sectors crucial for Brazil's development, including infrastructure, industrialization, environment, and climate. It aims to reduce inequalities and support economic growth recovery during crises.
CEXIM is described as "a state-funded and state-owned policy bank" that supports China's foreign trade and international cooperation. With backing from the Chinese government, CEXIM plays a significant role in promoting economic growth and structural adjustment within China.
The partnership marks a significant step in reinforcing financial cooperation between Brazil and China through targeted investments that align with both countries' strategic economic goals.
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