Brazil Prosperity Fund Programme
The Programme aims to increase productivity in Brazil to renew economic growth and reduce poverty, by reducing costs and stimulating competition and innovation.
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Through the UK’s £56 million investment over 3 years, the Prosperity Fund will work in energy, green finance, future cities, and trade to support Brazil.
Energy
A single UK-Brazil energy partnership will deliver the programme. It will provide a focal point for the UK support on energy regulation, policy making, research and development, and innovation. The programme will support Brazil to:
- meet international standards and best practices
- make regulatory reforms to enable the transition to a low carbon economy
- promote diversification and tackle market failures to boost investment
It will increase institutional capacity of regulators, policy makers and operators and improve integration between them.
Green Finance
The programme will support the establishment of Brazil’s first ‘green investment vehicle’ within a Brazilian development bank, like the UK’s Green Investment Bank (GIB). It aims to develop a new Environmental Social and Governance (ESG) framework for development banks in Brazil to design sustainable infrastructure projects to attract private investment.
Future Cities
The programme aims to advance sustainable urban development through smart city technologies in mobility and water, areas in which the UK excels. The programme will support transport and water management innovations through a smart city approach to reduce poverty and increase sustainable economic growth.
Trade
The programme builds on Brazil’s efforts to facilitate trade and integrate into global markets as a source of growth. It aims to support Brazil’s economic development and create jobs. It will do this by reducing the costs of trade and time of transactions, and increasing participation of Brazilian smaller businesses in global value chains.
Last updated 30 March 2021 + show all updates
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2019 annual review and new Memorandums of Understanding (with Brazil's Ministry of Economy, BNDES and OECD) added.
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First published.