Brazil’s development bank BNDES has launched an online platform to track credit approvals under its Mais Inovação programme, which finances innovation, digitalisation and technology projects linked to the Nova Indústria Brasil policy, the bank said.

Since January 2023, lending through the Mais Inovação line has reached BRL21.95bn ($4.08bn), according to figures provided by BNDES, Estadão reported. 

The total covers 4,653 credit operations across companies of different sizes and regions, aligned with the six development missions of the Nova Indústria Brasil programme.

Agribusiness accounts for 10.53% of the category classified as “other”, while defence represents 2.29%.

BNDES president Aloizio Mercadante said the initiative aims to strengthen industrial competitiveness. “To be competitive, Brazilian industry needs to be innovative, incorporating and developing new technologies,” he said.

“With President Lula’s industrial policy, BNDES is contributing to the development of new medicines, services, and vaccines in the health sector in Brazil, in addition to supporting 20 new software programmes with innovative use of artificial intelligence.” 

He added that the platform reinforces transparency and allows public monitoring of investments and expected results.

According to the bank, the approved funding could generate more than 28,000 jobs. Of the total operations, 3,319 were granted to micro, small and medium-sized firms, amounting to BRL4.07bn, including purchases of industrial automation equipment.

“The approved projects enable the construction and modernisation of laboratories or R&D centres totalling almost 200,000 square metres,” BNDES said.