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.

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.