BNDES creates fund to support diverse cultural projects in Brazil

The Brazilian Development Bank (BNDES) approved a fund of R$ 22.5 million to finance more than 500 small and medium cultural projects across Brazil.

This initiative is part of a R$ 30 million investment in non-reimbursable resources over four years. The bank aims to mobilize an additional R$ 17.6 million in private donations through crowdfunding campaigns. The bank will partner with Grupo Benfeitoria and Sitawi Finanças do Bem to select projects, train participants, and manage fundraising efforts.

The program targets projects with budgets between R$ 30,000 and R$ 240,000 led by or focused on underrepresented groups, including women, Black and Quilombola people, Indigenous peoples, LGBTQIAPN+ individuals, the elderly, and people with disabilities. The BNDES will provide a R$ 2 match for every R$ 1 donated to projects in the North, Northeast, and Center-West regions. In the South and Southeast, the bank will match donations at a 1 to 1 ratio.

The program covers areas such as theater, dance, music, visual arts, literature, audiovisual, and games. The bank expects the program to generate about 1,800 direct and indirect jobs.