JBIC, BNDES Sign MOU

Japanese Ex-Im bank JBIC and Brazilian development bank BNDES have signed a memorandum of understanding to fund up to $3bn in infrastructure projects, with a particular focus on the transportation industry. JBIC and BNDES last joined forces in April to raise $300m to fund projects that benefit the global preservation of the environment, fostering the reduction of greenhouse gas emissions, energy efficiency and the use of renewable energy.