The presidents of development banks in the countries that make up the Brics (Brazil, Russia, India, China and South Africa) agreed to work on developing projects for technological innovation (BRICS Multilateral Cooperation Agreement on Innovation). The deal was sealed during the VI Summit of the BRICS, in Fortaleza – Brazil.
According to the president of the National Bank for Economic and Social Development (BNDES), Luciano Coutinho, the focus of the projects is the infrastructure and sustainable energy; innovation of processes and products in various fields of industry, services and agribusiness. Also aims to expand cooperation between the development banks of the BRIC countries, and seek to increase trade and investment between the five countries.
At the meeting, the presidents of development banks stressed the importance of exchanging successful experiences in the area of innovation, priority investments in emerging economy.
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The agreement is valid for five years and includes initiatives such as project financing of innovation and emerging technologies, exchange expertise and innovation funding and the possibility of co-financing for development in areas of mutual interest.
Luciano Coutinho denied the existence of studies for a special line of funding from the BNDES for the 4G auction scheduled for September.