BELÉM, Brazil — The Inter-American Development Bank (IDB), the Brazilian Ministry of Environment and Climate Change, and the Brazilian Development Bank (BNDES) signed a letter of intent to enable a $500 million contribution from the IDB to Brazil’s National Climate Change Fund (FNMC, its Portuguese acronym).
The goal is to deepen collaboration among the three institutions to develop a joint initiative for financing projects through FNMC resources. Actions may include financial contributions from the IDB to the FNMC, strengthening the Fund’s capacity to meet Brazil’s growing demand for financing for sustainable development projects.
The signing ceremony took place during COP30 and was attended by IDB Group President Ilan Goldfajn; the executive secretary of the Ministry of Environment and Climate Change, João Paulo Capobianco; and BNDES President Aloizio Mercadante.
“We are strengthening the Climate Fund so that financing reaches those who need it in their daily lives – especially small and medium-sized enterprises and local projects. With greater scale, improved governance, and new partners, we will expand our impact,” said Goldfajn.
“The Climate Fund fulfills exactly the objective it set out to achieve at the time of its creation: a financial mechanism to enable the ecological transformation that the country needs. The new contribution will strengthen actions to combat climate change in Brazil on several fronts, benefiting our entire population,” said Capobianco.
“This agreement reinforces Brazil’s commitment to ecological transition and addressing the climate emergency. By joining forces, the Brazilian government, BNDES, and the IDB will expand financing for sustainable projects, strengthening the Climate Fund as an important and strategic instrument for promoting sustainable development and positioning Brazil at the forefront of the global environmental agenda,” said Mercadante.
Managed by the Ministry of Environment and Climate Change and implemented by BNDES, the FNMC provides financing for the development of resilient and sustainable projects, assessments, and initiatives.
This project must first undergo the review and approval process of each institution and Brazil’sMinistry of Planning and Budget. As the next step, the Ministry of Environment will submit the request to the External Financing Commission (Cofiex), a collegial body of the Ministry of Planning and Budget responsible for authorizing the preparation of projects with external resources guaranteed by the federal government.
The IDB Group at COP30
The IDB Group is holding more than 80 events at COP30 to present solutions aimed at closing financing gaps for resilient development through partnerships, innovation, and a focus on measurable impact in Latin America and the Caribbean. Journalists present are invited to visit our spaces, with no registration required: the IDB Group Pavilion in the Blue Zone, the IDB Group Pavilion in the Green Zone, and the AMAZÔNIA SEMPRE Station at the Goeldi Museum. Follow our COP30 page for all news and event schedules.
The IDB Group is acting as a bridge – connecting governments and investors, the public and private sectors, people and communities – to mobilize at least $6 billion in announcements that help close financing gaps for resilient development and support national priorities.
About the IDB
The Inter-American Development Bank (IDB), a member of the IDB Group, is devoted to improving lives across Latin America and the Caribbean. Founded in 1959, the Bank works with the region’s public sector to design and enable impactful, innovative solutions for sustainable and inclusive development. Leveraging financing, technical expertise, and knowledge, it promotes growth and well-being in 26 countries. Visit our website: https://www.iadb.org/en.
Romina Nicaretta
De Araujo Aragaki,Bruno Katsumi
