Banco de Desenvolvimento de Minas Gerais (BDMG) is a state-level development bank in Brazil, which has the overarching goal of supporting economic, financial, and social development in the state of Minas Gerais. Founded in 1962, the Bank provides financial services for businesses of all sizes in all sectors as well as for public infrastructure projects. BDMG is a company controlled by the State of Minas Gerais and is a legal entity under private law with a mandate to operate in the State and its neighbors. It is based in the city of Belo Horizonte, capital of Minas Gerais. As a development bank, it is part of the Brazilian national financial system.

The BDMG’s vision of “Being the world reference of a local development bank focused on impact,” is built on three dimensions: Ensuring Financial Sustainability, Maximizing Impact and Development, and Being an Expert on Minas Gerais and to Generate Value for Society. BDMG’s values are:

  • Making a difference;
  • Innovating;
  • Being Results oriented; and
  • Cooperation.


BDMG has been very successful in raising climate and sustainable finance. Since 2012, BDMG has raised about BRL $2.5 billion (USD $460 million) in international and domestic funds, with the purpose of supporting green, innovative and agribusiness projects. Of this amount about USD $182 million (from Agence Française de Développement (AFD) and the European Investment Bank (EIB)) is dedicated to climate, sanitation, renewable energy and energy efficiency projects. The bank also has an innovative USD $10 million facility with Cargill Financial Services International, to finance activities in the agribusiness supply chain in Minas Gerais.

The Bank is also a leader in fintech with BDMG Digital, an online credit financing platform for small and medium enterprises (SMEs). It combines the power of the internet and digital technologies to promote financial inclusion of SMEs. SMEs face barriers that restrict their access to financing generally, and particularly for sustainable development. Since its launch in 2012 through year-end 2020, more than 75,000 SMEs applied for credit and credit was granted to 26,000 companies.

In addition, the bank has a public sector lending portfolio consisting of over 650 loans and an extensive municipal advisory service which focuses on structuring infrastructure concessions and privatizations.


Putting green and social together, BDMG’s work along with the 853 municipalities of Minas Gerais to improve the quality of life of its inhabitants by financing urban infrastructure, water and sewage supply, solid waste management, urban mobility and drainage, in addition to health and education projects.

Assessing the social effects of financing Micro and Small companies, in line with SDG 8 – Decent Work and Economic Growth, BRL 238.2 million was disbursed to 3,622 SMEs, with 19.5% of clients falling under microcredit criteria. These resources benefited clients in 381 municipalities and contributed to the maintenance of more than 16,460 jobs.

Clean energy projects received BRL 124.6 million, distributed in 27 municipalities. Photovoltaic solar energy projects represent 37% of the disbursement for energy efficiency and renewable energy. The renewable energy projects installed as of September 2021 can generate 63 GWh/year, equivalent to the consumption of 21,295 Brazilian households with four people, on average, for a period of one year. In terms of avoided greenhouse gases emissions (GHG), it is possible to estimate that more than 4,700 tCO2e/year of avoided emissions.

Last updated December 8, 2021

Additional Reference

BDMG’s Press Releases

Read more about Banco de Desenvolvimento de Minas Gerais’s investments in specific technology areas on their website: https://www.bdmg.mg.gov.br/.



Projects and Initiatives

Financial Information and Reports

Press Releases