350 Million Euro Program to Help Women & Green Energy in the Amazon

• The statement of intent was signed by EIB Global and Banco do Brasil to form a €350 million funding initiative
• The program will support women entrepreneurs and clean energy projects within Brazil's Amazon region

EIB Global, the European Investment Bank Group's development arm and Banco do Brasil will collaborate through a statement of intent to establish a €350 million financing scheme aimed at supporting women entrepreneurs and clean energy within the Amazon region of Brazil.

The signature of the agreement during COP30, the 30th United Nations Climate Change Conference, in Belém, Brazil marks an important step forward in advancing climate cooperation between the EU and Brazil.

The scheme will enhance microcredit access to women-led and women-managed micro-enterprises, primarily located in the Legal Amazon, which includes nine states of Brazil.

The programme seeks gender equality and decent jobs for local community members alongside social and economic resilience for more vulnerable communities through improved financial inclusion of women.

The programme will not only focus on business support but will also finance renewable energy projects, including rooftop solar for self-consumption projects in remote and off grid areas, reducing diesel generator dependency, greenhouse gas emissions and accelerating Brazil's clean energy transition in line with their commitments to the Paris Agreement.

It is a partnership that supports the EU-Brazil Green Deal, which promotes sustainable development, biodiversity maintenance and climate action.

It also relates to Brazil's Nationally Determined Contributions to reduce greenhouse gas emissions and ensure that economic growth does not leave anyone behind.

EIB Vice-President Ambroise Fayolle noted that the Green Fund was part of timely implementation of the Global Gateway of the EU, stating that supporting women entrepreneurs and clean energy in the Amazon will contribute to inclusive growth and Climate cooperation between the EU and Brazil.

According to José Ricardo Sasseron, the Vice President of Banco do Brasil of Government and Corporative Sustainability, the Green Fund contributes to all Brazil's environmental and social goals.

It is an example of how economic development can be achieved with environmental responsibility and social inclusion.