Banco de Desenvolvimento de Minas Gerais (BDMG) is a state-level development bank in Brazil, under the control of the State of Minas Gerais. Its primary mission is to support economic, financial, and social development within the state. Established in 1962, the bank offers financial services to businesses across all sectors and supports public infrastructure projects. 

In recent years, BDMG has adapted to the changing dynamics of global development banks, with a growing emphasis on sustainable investments. The bank has defined five impact commitments for its operations: 

1. Financial Inclusion: to provide micro and small companies with access to favorable financial services, thereby supporting job retention. 

2. Clean Energy: to expand the renewable energy matrix by facilitating investments in clean energy sources and energy efficiency. 

3. Priority Investments with a Positive Impact: to actively promote productivity and job creation through strategic investments. 

4. Inclusive and Sustainable Cities: to support infrastructure projects that focus on essential aspects such as sanitation, health, education, urbanization, and inclusive spaces. 

5. Low Carbon Agriculture: to contribute to soil regeneration, biodiversity, and the reduction of Greenhouse Gas (GHG) emissions. 


In 2022, BDMG implemented its Social, Environmental, and Climate Responsibility Policy. This policy comprises a set of principles and guidelines that govern the bank’s strategic actions. It aligns with the Minas Gerais State Climate Action Plan, which aims to achieve net greenhouse gas emissions neutrality by 2050, within the scope of the Race to Zero Campaign. 

BDMG has successfully raised both international and domestic funds to support green, innovative, and agribusiness projects. Additionally, the bank has fostered essential technical cooperations. For example, BDMG partnered with the InterAmerican Development Bank (IDB) in a pilot project to test a physical climate risk assessment tool developed by a specialized company, which was incorporated into the Bank’s portfolio. Furthermore, in collaboration with Agence Française du Development (AFD), BDMG has been developing methodologies to measure and mitigate climate and socio-environmental risks, expanding its portfolio linked to the Sustainable Development Goals (SDGs), and implementing its climate strategy. 

In 2022, BDMG disbursed a total of BRL 2,422.8 million to companies and municipalities. The bank served 5,182 clients, 89% of which are micro or small companies

Projects related to energy efficiency and renewable energy received BRL 234.7 million, indicating a 39% increase compared to the same period in 2021. Photovoltaic solar energy projects stood out, accounting for 68% of the total disbursements.

The LabAgroMinas Program is another noteworthy initiative focusing on sustainable agriculture by promoting climate-smart practices and adopting new agricultural technologies to reduce greenhouse gas emissions and promote soil regeneration. So far, the program has disbursed BRL 6.2 million for two projects. One of these projects converts animal waste into clean energy and bio-fertilizers, while the other aims to significantly reduce the use of chemical inputs by utilizing soil remineralizers and bio-fertilizers.  


In 2022, BRL 238.2 million was disbursed to 3,622 SMEs, with 19.5% of clients falling under microcredit criteria. These resources contributed to the retention of more than 16,460 jobs, demonstrating the positive social effects of financing Micro and Small companies.

Through photovoltaic solar energy projects and biomass-based energy plants, BDMG has facilitated an installed capacity of over 140MW. These projects are estimated to generate 630 GWh of renewable energy annually, enough to supply an average of 210 thousand families of four. Furthermore, these initiatives are expected to prevent the emission of almost 40,000t of CO2e/year, making a significant contribution to mitigating climate change. 

Last updated August 8, 2023

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