The President of the Republic, Jair Bolsonaro, issued a Decree, published this Monday (22) in the Official Gazette of the Union, which promulgates an agreement between the Brazilian government and the New Development Bank (NBD), which provides for the installation of the institution’s headquarters in Brazil. The agreement was signed in Johannesburg, Africa, in 2018.
The Decree has the text of the agreement attached. The headquarters of the NBD’s Americas Regional Office (ERA) will be in São Paulo and the bank may establish branches (sub-headquarters) in Brasília and, with the consent of the government, in other cities.
“The creation of the Regional Office is intended to intensify the activities of the NDB in Brazil, through better identification and preparation of projects to be evaluated by the Bank, also considering the physical distance from the Bank’s headquarters, in Shanghai, and the particularities of the Brazilian legislative and regulatory framework”, says the General Secretariat in a note released this Monday morning.
According to the Brazilian government, in addition to prospecting projects in the country, the office should make it easier for the NDB to raise funds in the Brazilian financial market to finance projects in local currency, in order to reduce the exchange risk of its operations.
“ERA will also have jurisdiction over the other countries in the Americas that may be admitted to the Bank, being the second regional office established by the Bank to carry out its functions”, says the General Secretariat. There is an NBD Regional Office in Johannesburg.
Reference: CNN Brasil
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