CDP signs agreement with BDMG for the production of sustainable coffee in Brazil

CDP signs agreement with BDMG for the production of sustainable coffee in Brazil

The Memorandum, signed in the presence of the Government of the State of Minas Gerais, aims to mobilise resources for initiatives that promote sustainable farming practices in the segment and new collaboration opportunities between Italian and Brazilian businesses


Cassa Depositi e Prestiti and Banco de Desenvolvimento de Minas Gerais (BDMG) have signed a Memorandum of Understanding in the presence of the Government of Minas Gerais to support the sustainable production of coffee in Brazil, the biggest export product in the State’s food industry.

The partnership aims to strengthen economic relations between Italy and Brazil and promote farming practices that are resilient to climate change, with benefits for rural communities and small producers.

Paolo Lombardo, International Cooperation & Development Finance Director at Cassa Depositi e Prestiti, commented: “The signing of this Memorandum marks the start of a collaboration with BDMG aimed at exploring sustainable financing opportunities in the coffee sector, with particular focus on climate finance. Minas Gerais is synonymous with the production of coffee, a product that has created a strong bond between Brazil and Italy, two countries with a shared tradition and culture that we want to promote also through the creation of a lasting partnership with BDMG based on innovative development instruments.”
According to Gabriel Viégas Neto, Chairman of BDMG, the partnership shows how the Government of Minas Gerais, via Banco, is working to transform the State’s farming sector. “Banco already finances sustainable practices, including regenerative coffee. But we are always looking to do more. As a development bank, our goal is support market initiatives that generate positive results from both an environmental and economic perspective”, he underlined.

The Memorandum also aims to facilitate knowledge transfer and the organisation of business matching events between Italian and Brazilian businesses. The objective is to create new collaboration opportunities in sustainable supply chains and in the leading “Made in Italy” sectors in Brazil, where over 1000 Italian companies are already active.
 

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