Excerpt from Technical Assistance for Development Banks in Brazil: Results of a Four-Year Action-Research Program

Early in 1967 the Ford Foundation granted funds to the Banco Nacional do Desenvolvimento Economico (ende) of Brazil and the Massachusetts Institute of Technology (mit) of the United States to develop a collaborative program of technical assistance in development finance. A major goal of the project was to increase the effectiveness of the fipeme development finance program operated by the bnde through state and regional development banks throughout the country. The program provides long term credit at low interest rates to small and medium size firms. As each project is approved, money is passed from the ende to the state and regional banks which in turn repass it on to the borrowing firm.

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