The board of directors of the BNDES approved R$ 358 million in financing for the construction of four wind farms in the state of Ceará. The projects comprise the Trairi Project, which will have a total installed capacity of 115.4 MW and will begin operations in January 2013.

The memorandum formalizes the interest of both institutions in establishing a joint cooperation initiative which aims to provide financial support for projects of Brazilian and Japanese interest to be developed in other countries, with a special focus on projects in Africa, Latin America and the Caribbean.

Disbursements from the BNDES reached R$ 24.5 billion in the first quarter of this year, almost on par with the same period last year. Meanwhile, consultations and eligibilities of projects in the Bank grew significantly.

As part of the measures announced by the federal government to stimulate investment, the BNDES has significantly reduced the cost of its financing for machinery and equipment, extending loan terms and its maximum levels of participation.