Brazil’s Development Bank to bring BRL 60 mi to coral preservation
This week, Brazil’s National Bank for Economic and Social Development (BNDES) launched another permanent call for the BNDES Azul (“Blue BNDES”) program, named after the color of the ocean. This time, efforts aim to preserve coral reefs with a minimum BRL 60 million. A previous branch of the program, unveiled in 2023, was aimed at protecting mangroves, a public call for BRL 50 million involving eight mangrove areas along the coast.In practice, the coral preservation initiative means that the bank will invest BRL 30 million in coral monitoring, preservation, and repair projects, and make BRL 30 million available for plans to be sponsored by foundations linked to private companies, international organizations, and state governments.While announcing the call, BNDES President Aloizio Mercad...