The Brazilian Development Bank (BNDES) is set to invigorate Brazil’s shipbuilding industry with an R$2 billion ($404 million) investment from the Merchant Marine Fund (FMM).
Unveiled on January 24, 2024, in Rio de Janeiro, the ‘BNDES Blue’ initiative aims to boost the sustainable ocean economy, including the Marine Spatial Planning (PEM) project to enhance marine policy-making.
Focusing on regions like the Blue Amazon, South, and Southeast, the plan prioritizes mapping marine environments.
Additionally, BNDES promotes green shipbuilding with lower rates for renewable fuel projects, aligning with the 2030 sustainable maritime fuel mandate.
BNDES President Aloizio Mercadante highlighted Brazil’s potential leadership in adopting biofuels, like ethanol, for shipping.
In addition, BNDES invests R$45 billion ($9B) in port infrastructure, backing the Growth Acceleration Program (PAC) for leases and private terminals.
Emphasizing collaboration with the private sector and active capital market participation, BNDES aligns with Brazil’s “New Industry Brazil” plan.
BNDES-driven R$300 billion ($60B) strategy revitalizes industry with tax incentives, state company loans, prioritizing long-term development over short-term gains.
However, Brazil’s naval capabilities contrast sharply with those of leading nations due to political and investment shortfalls.
Brazil’s urgent naval challenges demand strategic focus. Initiatives like ‘BNDES Blue’ play a crucial role in global maritime progress.