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Brazil: Brazil BDMG Enhanced Environmental and Social Framework (EESF) to support BDMG Asia Connectivity Facility

GRANT SUMMARY INFORMATION

SPECIAL FUND TYPE
MCDF Grant
MEMBER
Brazil
SECTOR
Multi-sector
PROJECT NUMBER
S000622

FINANCING

APPROVED AMOUNT
USD1 million

TIMELINE

APPROVAL DATE
December 17, 2021

DESCRIPTION

Banco de Desenvolvimento de Minas Gerais S.A. (BDMG) is a subnational public development bank controlled by the Government of the State of Minas Gerais in Brazil. The objective of the MCDF grant is to improve BDMG’s environmental and social framework, management system and practices. This enhancement of BDMG’s environmental and social standards and systems is expected to have a direct impact on the overall effort of BDMG to adopt upgraded environmental and social standards and systems (at international standards level) to their wider operations over time. In addition, the MCDF grant will support BDMG in using such enhanced environmental and social standards and systems as a template of best practices to train other banks and institutions in Brazil. The lessons learnt will be shared with relevant institutions across Latin America through existing networks.

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