The Development Bank of Minas Gerais (BDMG) is preparing to raise about $100 million in green bonds, with support from the Inter-American Development Bank (IDB)

The BDMG presents on Tuesday a framework, document that details the the scope of companies or projects that can be targeted for funding, a preview of the funding itself, which should be released in the coming months. According to BDMG, this is the first IDB-type operation with a development bank in Brazil that, despite the vast opportunities for environmentally and socially responsible projects, is only beginning to be found in the green bond market.
These bonds finance projects in areas such as sustainable agriculture, education, urban mobility, innovation and basic sewage.