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IDB’s Multilateral Investment Fund to Support Brazil’s Development and Biodiversity Projects

Agreements signed with Construtora Norberto Odebrecht, Chico Mendes Institute for Biodiversity Conservation (ICMBio) and the Brazilian Institute of Municipal Administration (IBAM)

Costa do Sauípe, Brazil--The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group, announced today a project to preserve biodiversity in Brazilian protected areas, as well as an agreement with Construtora Norberto Odebrecht S.A. to collaborate on joint initiatives aimed at local economic development and the environment.

Said MIF General Manager Nancy Lee, “We very much welcome the opportunity to work with the public and private sectors on an innovative community-based model for managing Brazil's rich biodiversity in protected areas. This model is a good example of how the MIF can help Brazil test new kinds of public-private partnerships that promise large benefits.” She added, “The MIF is also very pleased to enter into a more strategic partnership with Construtora Norberto Odebrecht so that we can combine our best efforts and shared interests to achieve greater scale and impact.”

The first project agreement, for $3.2 million, was signed with the Chico Mendes Institute for Biodiversity Conservation (ICMBio), and the Brazilian Institute of Municipal Administration (IBAM), to pilot innovative management models to preserve biodiversity in Brazilian protected areas. The signing took place during the 2014 Annual Meeting of the Board of Governors of the IDB.

Brazil is one of a small group of countries considered “megadiverse.” In order to promote a balance between economic growth and sustainable development, the Brazilian government designates over 2,000 land areas, both public and private, as Conservation Units to receive special protection.

The new project will develop a public-private partnership model that will allow local communities, non-profits and the private sector to participate in and strengthen the sustainable management of Conservation Units under the care of ICMBio.

In addition, the MIF today signed a memorandum of understanding with Construtora Norberto Odebrecht to collaborate on joint initiatives in several areas of mutual interest.

Potential topics for partnerships include building opportunities for small producers to participate in value chains, promoting local economic development near Odebrecht projects, employment programs for disadvantaged youth, conservation of biodiversity, and strategies for assessing the impact of interventions by Odebrecht’s sustainability group.

The MIF and Odebrecht have already partnered on three projects: one supporting local economic development along the Odebrecht-built South Interoceanic Road connecting Brazil and Peru, one with small producers in the sustainable tourism sector in the Dominican Republic, and the third working with the Odebrecht Foundation to develop sustainable production and export of hearts of palm in rural southern Bahia, Brazil.

About the MIF

The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group, is funded by 39 donors and supports private sector-led development benefitting low-income populations and the poor - their businesses, their farms, and their households. A core MIF mission is to act as a development laboratory in order to build and support successful micro and SME business models.