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In June 2011, the Government of Brazil and the Bank Group signed an agreement to establish a new South-to-South Cooperation Trust Fund (SSCTF) with an untied grant of US $6 million to promote South-South Cooperation with the Regional Member Countries. The activities eligible for SSCTF funding include technical assistance in preparation of policy and sector studies, research and analysis, capacity building and human resources development through training, organization of seminars, workshops, conferences for networking, consultation and knowledge sharing on policy issues and economic experiences and publications, piloting innovative approaches to solve development challenges in RMCs, and other technical assistance activities. The major areas of intervention outlined in the SSCTF Agreement are agriculture and agri-business, private sector development, clean energy/environment, governance, health, social development and any other area agreed upon by the parties from time to time.

The Bank continues to engage Brazil on how it can best help African countries to tap into Brazil’s experience in developing and transforming the Cerrado region into a global food basket, the country’s co-ownership of the ITAIPU Hydropower plant, and trade financing through the Brazilian Development Bank, BNDES. These are considered key towards the achievement of the Bank’s High 5s priority areas.