National Bank for Economic and Social Development (BNDES) has announced the raising of BRL$ 362 million (US$ 69.4 million) with the German development bank KfW for the Amazon Fund and the Credit Guarantee Program for Energy Efficiency (FGEnergia).

For FGEnergia, BNDES raised roughly BRL140 million (US$26.85 million) with the German development bank KfW. German collaboration will provide up to BRL 25 million (US$4.79 million) in technical assistance for the operation, in which the German Agency for International Cooperation (GiZ) will also participate. 

The Amazon Fund is a financing instrument set up to receive voluntary donations intended for non-refundable application in actions to prevent, monitor and combat deforestation, conservation and sustainable use of the Legal Amazon. The Fund approved its first projects in 2009 and since its creation has raised a total of US$ 1.3 billion. Currently, it has a portfolio of 102 projects, with a total support value of BRL1.8 billion (US$345.32 million), of which BRL 1.5 billion (US$287.76 million) has already been disbursed.

Whereas FGEnergia grants guarantees for financing energy efficiency projects, allowing the flexibility of the demand for real guarantees, at the same time that it encourages actions to promote a culture of increasing efficiency and reducing energy waste.