European Investment Bank (EIB) Vice-President Ambroise Fayolle and President of the Brazilian Development Bank (BNDES) Aloizio Mercadante signed a memorandum of understanding today at COP28 in Dubai, to explore co-financing opportunities in the renewable energy, environment and social sectors in Brazil, including in the Amazon region. The memorandum of understanding will strengthen coordination between the two institutions to promote joint activities and ensure that their work is complementary and cohesive. EIB and BNDES are also discussing a possible credit line of up to €300 million with a focus on the water and sewerage sectors.