IDB Approves $100 Million to Foster Investment Environment in Brazil
WASHINGTON – The Inter-American Development Bank (IDB) has approved new financing to support the Brazilian government’s efforts to foster a favorable environment for investment and private-sector activity. The operation strengthens the Institutional Reforms Program for Competitiveness and Business Improvement, in partnership with the Ministry of Development, Industry, Trade, and Services.
With financing of $100 million, or approximately R$ 560 million, in the form of a policy-based loan (PBL), the program aims to consolidate progress made in this area and promote the medium- and long-term sustainability of reforms that reduce transactional costs for the private sector in the country.
Expected results of the program by 2027 include strengthening institutional capacity for regulatory policy; increasing deposits and reducing processing time for patents; reducing the number of import licenses and processing times through the New Import Process of the Single Foreign Trade Portal Program; as well as increasing credit for MSMEs, women-led exporting companies, and the number of verified sustainable infrastructure projects.
Brazil has been advancing a reform agenda to enhance competitiveness and improve the business environment. In recent years, the IDB has supported this agenda with knowledge and technical cooperation, which now gains new momentum with this approval.
About the IDB
The Inter-American Development Bank (IDB) is devoted to improving lives across Latin America and the Caribbean. Founded in 1959, the IDB 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.