Open Innovation Financing Program for the Northeast (Nordeste Inova)

The General Development Objective (GDO) is to strengthen investment in innovation by financing the public procurement of open innovation solutions to address development challenges faced by subnational entities in Brazil's Northeast Region. The Specific Development Objectives (SDOs) are:(i) to strengthen the capacity of subnational public and private entities within the core area of operation of the Banco do Nordeste do Brasil (BNB) to adopt open innovation practices; and(ii) to increase the procurement of innovative solutions by subnational public entities within the BNB's core area of operation.

Project Detail

Country

Brazil

Project Number

BR-L1683

Approval Date

Project Status

Preparation

Project Type

Loan Operation

Sector

PRIVATE FIRMS AND SME DEVELOPMENT

Subsector

ENTERPRISE DEVELOPMENT, CLUSTERS AND INNOVATION

Lending Instrument

Investment Loan

Lending Instrument Code

INV

Modality

GCR (Global Credit Operation)

Facility Type

Environmental and Social Impact Category (ESIC)

Category FI: Operations in which funds are channeled through financial intermediaries that evaluate and monitor the subprojects they finance.

Total Cost

Country Counterpart Financing

Original Amount Approved

USD 40,000,000.00