The Project Fundo Clima - Brazil National Climate Fund Project is designed to support climate change mitigation and adaptation projects in Brazil. The NDB loan will be used by MMA under the Fundo Clima program for on-lending to climate change mitigation and adaption sub-projects in the sectors of urban mobility, waste treatment, renewable energy, and energy efficiency and etc. Brazilian Development Bank (BNDES) is the financial agent of this fund and is responsible for managing the fund's operations. The Project will contribute to socio-economic benefits in Brazil's priority sectors. The Project is also expected to bring crowding-in effect for climate change adaption and mitigation financing in Brazil, with a potential to mobilize an additional USD 2 billion.