Banco do Brasil: 250 million from CDP with SACE guarantee for sustainable growth
The loan will support the expansion of the Brazilian bank's ESG loan portfolio and allocate half of the resources to economic recovery projects
The initiative, 80% guaranteed by SACE, promotes interventions in strategic sectors for sustainable development, in line with Banco do Brasil's social and environmental programme and the United Nations 2030 Agenda Goals
CDP and SACE will foster the strengthening of trade relations between the two countries through business promotion and business matching activities for Italian companies
Banco do Brasil and Cassa Depositi e Prestiti (CDP) formalize a €250 million operation together with 80% SACE guarantee. The banks signed a memorandum of understanding last October and are now announcing this beginning of investments to support sustainable operations, micro and small businesses, and expand bilateral trade.
The operation aims to strengthen Banco do Brasil's credit lines for projects with environmental and social objectives, reserving a share of EUR 125 million, equal to 50% of the total, to support initiatives in the territories most affected by the floods in the south of the country.
The resources will be used to implement sustainable development projects through loans that the Brazilian bank will grant directly to local authorities and businesses. Among the interventions already identified are activities to repave and improve drainage systems in municipalities that were recently severely affected by flooding events, the relocation and reconstruction of destroyed company warehouses, and financing for damaged small and medium-sized businesses.
The financing will also enable the promotion of initiatives in key areas identified in Banco do Brasil's ESG framework, such as renewable energy sources, energy efficiency, low-impact construction, green transport and social inclusion, and will also contribute to the achievement of the Sustainable Development Goals of the United Nations 2030 Agenda, particularly those related to economic growth, innovation and international cooperation.
CDP and SACE will promote new opportunities for Italian companies interested in developing or strengthening their presence in Brazil, through business promotion and business matching activities.
The operation is part of the broader process of strengthening relations between Italy and Brazil, Italy's second largest trading partner in Latin America, with bilateral trade exceeding €10 billion in 2024 and a growing presence of Italian companies in strategic sectors for the green and digital transition. The consolidation of relations reflects Italy's growing commitment in the region, which took concrete form last year with a system mission led by the Ministry of Foreign Affairs and International Cooperation (MAECI).
Edmondo Cirielli, Deputy Minister of Foreign Affairs and International Cooperation, commented: “I am pleased to see the concrete results of the synergy ensured by the G7 and G20 presidencies of Italy and Brazil last year. This initiative reflects Italy's approach to international cooperation and economic diplomacy. It strengthens our historical ties with Brazil and promotes a joint commitment to sustainable growth and the reconstruction of a region with deep Italian roots".
“The operation with Banco do Brasil, - said Dario Scannapieco, CEO of Cassa Depositi e Prestiti - is fully in line with the objectives of CDP's 2025-2027 Strategic Plan, which promotes interventions to support sustainable growth in partner countries. Intervening in favour of the Rio Grande do Sul region means accompanying an area hard hit by atmospheric events on a path of reconstruction and growth, while strengthening deep economic and cultural ties between Italy and Brazil and creating new opportunities for Italian companies".
“SACE confirms its mission to support, with innovative tools, the sustainable growth of Italian companies abroad and is proud to play a central role in this operation that promotes interventions in strategic sectors for sustainable development,’ says Alessandra Ricci, CEO of SACE. - Through our guarantee, we promote not only the recovery of a hard-hit area, but also stimulate dialogue between Italy and Brazil, which translates into concrete opportunities thanks to SACE's strong commitment to facilitating investments and synergies between the two countries. We are convinced that collaboration between institutions is the key to effectively responding to global challenges”.
According to José Ricardo Sasseron, Government Affairs and Sustainability Chief Officer and Senior Vice-Presidente of Banco do Brasil, "the operation signed with CDP and SACE reinforces Banco do Brasil's commitment to the country's sustainable development. This strategy is also aligned with our acting at COP30, especially in the axis of 'Climate Justice and Social Impacts of Climate Change,' reaffirming Banco do Brasil's role as an agent of transformation and a partner for Brazil in decisive moments".