Brazil Prosperity Fund programme
Description
The Programme aims to increase productivity in Brazil to renew economic growth and reduce poverty, by reducing costs and stimulating competition and innovation. Through the UK’s £56 million investment over 3 years, the Prosperity Fund will work in energy, green finance, future cities, and trade to support Brazil. Energy A single UK-Brazil energy partnership will deliver the programme. It will provide a focal point for the UK support on energy regulation, policy making, research and development, and innovation. The programme will support Brazil to: meet international standards and best practices make regulatory reforms to enable the transition to a low carbon economy promote diversification and tackle market failures to boost investment It will increase institutional capacity of regulators, policy makers and operators and improve integration between them. Green Finance The programme will support the establishment of Brazil’s first ‘green investment vehicle’ within a Brazilian development bank, like the UK’s Green Investment Bank (GIB). It aims to develop a new Environmental Social and Governance (ESG) framework for development banks in Brazil to design sustainable infrastructure projects to attract private investment. Future Cities The programme aims to advance sustainable urban development through smart city technologies in mobility and water, areas in which the UK excels. The programme will support transport and water management innovations through a smart city approach to reduce poverty and increase sustainable economic growth. Trade The programme builds on Brazil’s efforts to facilitate trade and integrate into global markets as a source of growth. It aims to support Brazil’s economic development and create jobs. It will do this by reducing the costs of trade and time of transactions, and increasing participation of Brazilian smaller businesses in global value chains.
Location
The country, countries or regions that benefit from this Programme.
Status Post-completion
The current stage of the Programme, consistent with the International Aid Transparency Initiative's (IATI) classifications.
Programme Spend
Programme budget and spend to date, as per the amounts loaded in financial system(s), and for which procurement has been finalised.
Participating Organisation(s)
Help with participating organisations
Accountable:Organisation responsible for oversight of the activity
Extending: Organisation that manages the budget on behalf of the funding organisation.
Funding: Organisation which provides funds.
Implementing: Organisations implementing the activity.
- Accountable
- Funding
Sectors
Sector groups as a percentage of total Programme budget according to the OECD Development Assistance Committee (DAC) classifications.
Budget
A comparison across financial years of forecast budget and spend to date on the Programme.