The document was signed in Washington by Dyogo Oliveira, BNDES’ President, and Jorge Familiar, World Bank’s Vice President for Latin America and the Caribbean.

The memorandum expands BNDES’s cooperation with development banks in the use of the blockchain technology to enhance transparency and efficiency in the funded projects.

During the conference, which brought together ministers of planning and finance of Latin America, Oliveira pointed out that it is time for the region’s countries to become even more integrated in infrastructure.

The resources derive from BNDES’s Cultural Economic Development Program (BNDES Procult), R$3.44 million corresponding to refundable financing and R$3.44 to non-refundable financing, through the Audiovisual Law.