Some institutions offer the possibility of full or partial financing of project activities under the CDM.

FINEP (Studies and Projects Financing Agency), a public company connected to the Brazilian Ministry of Science and Technology, offers a Program to Support Projects under the Clean Development Mechanism, the so-called Pro-CDM, which finances pre-investment activities as well as scientific and technological development of CDM project activities by means of reimbursable and non-reimbursable financing lines (http://www.finep.gov.br/pro- gramas/pro_mdl.asp).

The National Bank for Economic and Social Development (BNDES) offers a credit line for “studies on viability, costs of project and Project Design Document (PDD) preparation, and other costs relating to the validation and registration process” (http://www.bndes.gov.br/ambiente/meio_ambiente.asp), in addition to the BNDES Clean Development Program, which is aimed at the selection of Investment Fund Managers with focus on companies/projects with a potential for generating Certified Emission Reductions (CERs) under the CDM.

(Portuguese: http://www.bndes.gov.br/programas/outros/desenvolvimento_limpo.asp; English:  http://www.bndes.gov.br/english/clean_development.asp).

Additionally, the Federal Savings Bank has a credit line for full financing of CDM project activities in areas such as sanitation, water pumping and small hydroelectric plants, for example.