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This research paper by the Climate Policy Initiative/PUC-Rio analyzes the total public cost of rural credit in Brazil between 2023 and 2025. It argues that the actual cost to society is nearly five times higher than the typically reported interest rate subsidies, as it includes tax benefits, public funding sources, and debt renegotiations. The study highlights significant gaps in transparency, low focalization on social and environmental goals, and regulatory asymmetries between different funding sources.

This methodological appendix describes the quantitative models used to analyze access to the National Program for Strengthening Family Agriculture (Pronaf) in Brazilian municipalities, using data from the 2017 Agricultural Census.

This report by the Climate Policy Initiative (CPI/PUC-Rio) analyzes barriers to accessing the National Program for Strengthening Family Agriculture (Pronaf) in Brazil. It identifies significant regional disparities in credit access, highlighting that technical assistance and rural extension (ATER) and membership in cooperatives are critical determinants for obtaining credit. The study emphasizes that while Pronaf is essential for financial resilience, it must be integrated with complementary public policies to enhance the productive and climate resilience of family farmers.

This report by the Climate Policy Initiative (CPI/PUC-Rio) analyzes financial flows for the bioeconomy in Brazil between 2021 and 2023. It identifies a significant concentration of funding in planted forests and bioenergy, while highlighting a substantial funding gap for biodiversity-based products and native forests, particularly in the North region.

This report by the Climate Policy Initiative (CPI/PUC-Rio) analyzes inequalities in access to rural credit for family farmers in Brazil, focusing on the National Program for Strengthening Family Agriculture (Pronaf). It finds that credit access is limited and unevenly distributed, favoring larger properties, the South region, and grain production, while smaller producers and those in the North and Northeast regions remain largely excluded.

This report analyzes the role of rural credit as the primary climate finance instrument for land use in Brazil between 2015 and 2020, detailing the sources of funding, the regulatory framework of the Brazilian Agricultural Plan, and the specific credit lines used to promote low-carbon agriculture.

This report by the Climate Policy Initiative (CPI/PUC-Rio) analyzes the financing landscape for highway and railroad projects in Brazil's North Region and nationwide between 2012 and 2021. It identifies a heavy reliance on public funding, particularly from the federal government and BNDES, while noting a growing but still limited role for private capital via incentivized debentures. The report emphasizes that infrastructure in the Amazon is a primary driver of deforestation and calls for strengthened governance, increased transparency, and rigorous socio-environmental criteria to ensure that future investments do not cause further ecological damage.

BNDES financing in the Legal Amazon from 2009 to 2019 was heavily concentrated in large-scale hydroelectric infrastructure that serves the wider Brazilian grid, despite the region's own significant energy poverty and lack of basic services. While the North Region receives the lowest total share of BNDES disbursements, these funds are highly significant relative to its regional GDP. Recent BNDES initiatives are shifting toward the energy transition, including agreements to replace diesel generation with renewables and a pilot project for solar microgeneration. The report emphasizes that future investments should prioritize reducing regional inequalities in energy, internet access, and basic sanitation.

This policy brief by the Climate Policy Initiative analyzes the activities of the Brazilian Development Bank (BNDES) in the Legal Amazon from 2009 to 2019. It highlights a concentration of funding in large-scale hydroelectric infrastructure that serves the rest of Brazil, while a significant portion of the local population remains without reliable electricity or basic sanitation. The document suggests that BNDES has an opportunity to pivot toward the energy transition and regional development by investing in renewable energy and digital connectivity.

This report by the Climate Policy Initiative examines the paradox of the Legal Amazon, a region that generates over 25% of Brazil's electricity via large hydroelectric plants but where millions of residents remain disconnected from the National Interconnected System (SIN). These populations rely on expensive, polluting diesel-powered isolated systems or lack reliable electricity entirely, a situation linked to poor socioeconomic indicators and inefficient auction models for energy supply.

This report by the Climate Policy Initiative examines the energy paradox in the Brazilian Legal Amazon, where the region hosts some of the country's largest hydroelectric plants yet millions of residents rely on expensive, polluting diesel-based isolated systems or lack electricity entirely. The document analyzes the socio-economic disparities between connected and isolated municipalities, the financial burden of fuel subsidies, and the barriers to transitioning toward renewable energy sources.