Renova Foundation has established partnerships with BDMG, local authorities of Mariana, and Minas Gerais Investment and Foreign Trade Promotion Agency
With the objective of contributing to the economic and social development of the regions impacted by the collapse of the Fundão dam, the Renova Foundation seeks partnerships with other institutions. Last week, two technical cooperation agreements were signed with the Minas Gerais Development Bank (BDMG), the local authorities of Mariana and the Minas Gerais Investment and Foreign Trade Promotion Agency (INDI).
A line of credit will be offered to the micro and small entrepreneurs of 40 municipalities of the region, in a less bureaucratic way, for the immediate stimulus of local businesses. Initially, Renova will make the investment and, over the next few years, will create a monetary fund to support itself financially. The initiative will be implemented after the completion of a study conducted by BDMG.
In the specific case of Mariana, as the town is dependent on mining, the idea is to think of differentials that lead companies from other economic sectors to settle in the municipality. This work will be conducted in partnership with INDI, BDMG and the municipal government.
“Both agreements have different characteristics and deadlines, but they support our challenge of fully reestablishing the affected communities. In Mariana, we expect that in four to five years new companies will be set up to diversify the economy. For the other regions, the idea is that at the beginning of the second semester the entrepreneurs will have access to the resources of the monetary fund, says Paulo Rocha, leader of the actions for the Stimulation of Local Contracting.