The Inter-American Development Bank (IDB) approved $100 million to help Brazil create a better environment for private investment and business activity, according to a press release. The money will strengthen Brazil’s Institutional Reforms Program for Competitiveness and Business Improvement, working with the Ministry of Development, Industry, Trade, and Services to reduce costs that make it harder for companies to operate in the country.
Brazil has been pushing reforms to boost competitiveness and improve the business environment. The IDB has been backing this agenda with knowledge and technical help, and this new $100 million loan gives it fresh momentum. The program aims to build on progress already made and make sure reforms last in the medium and long term.
By 2027, the program expects to strengthen how Brazil handles regulatory policy, speed up patent processing, cut import license requirements and processing times through the New Import Process, and increase credit for small businesses, women-led exporting companies, and verified sustainable infrastructure projects. IDB Brazil chief Annette Killmer said strengthening institutions so they act as catalysts for productivity and sustainable growth is central to supporting the country’s development.
The program tackles what’s known as “Custo Brasil” or Brazil Cost – extra expenses that the private sector says are one of the main factors driving up business costs and limiting investment in the country.
