On June 28, 2021, the New Development Bank (NDB) and Banco do Brasil S.A. entered into a Memorandum of Understanding (MoU) and established a framework for cooperation and promotion of initiatives in areas of common interest. The Memorandum was signed by Mr. Marcos Troyjo, NDB President and Mr. Fausto de Andrade Ribeiro, CEO of Banco do Brasil at an online ceremony during the launch of the “Plano Safra” 2021/2022 by Banco do Brasil.

According to the Memorandum, NDB and Banco do Brasil intend to cooperate in line with their respective mandates, policies and strategies, in areas such as joint participation in financial assistance for infrastructure and sustainable development projects; exploring cooperation opportunities in financial market businesses, including currency exchange, bond issuance, investment, and derivatives; cooperation in cash management and settlement services; exchange of information and promotion of knowledge-sharing; as well as providing mutual training and development of staff.

“It is an honor for the New Development Bank to sign today a partnership memorandum with Banco do Brasil,” said Mr. Marcos Troyjo, NDB President. “As one of the main players in the infrastructure sector in Brazil, and with extensive experience with public and private clients, Banco do Brasil has the potential to be an instrumental partner in directing NDB’s resources towards the country’s infrastructure and sustainable development.”

According to Mr. Fausto Ribeiro, CEO of Banco do Brasil, “this Memorandum of Understanding demonstrates the support of agribusiness by Banco do Brasil, promoting the constant expansion and modernization of this segment so crucial for Brazil’s economy.”