IDB, Brazilian banks propose new fund for Amazon
On Thursday (Jul. 25), three Brazilian public banks—the National Bank for Economic and Social Development (BNDES), Banco do Brasil (BB), and Caixa Econômica Federal—along with the Inter-American Development Bank (IDB), unveiled a new proposal to finance sustainability in the Amazon.The plan is to establish an Exchange Traded Fund (ETF) and distribute its shares before COP 30, which will take place in Belém, Brazil, in November 2025.ETFs, which originated in the U.S. at the turn of the 1980s and 1990s, are a type of investment that have become widespread in global capital markets. The proposal suggests that trading will occur on the São Paulo Stock Exchange, also known as B3.The ETF's investment portfolio will be made up of fixed-income securities issued by BNDES, BB, and Caixa. The r...