The Votorantim Institute signed a technical and financial cooperation teaming agreement with the National Development Bank (BNDES) designed to support projects that create jobs and income in municipalities nationwide that have critical social indicators. The first investment plan provides for contributions of R$ 62 million, R$ 31 million from each institution, within a four-year term (the agreement is valid for a total of five years).

Programs designed to create income and foster productive chains will be carried out in 27 municipalities between 2011 and 2015. To Ana Helena de Moraes Vicintin, the deputy chair of the Votorantim Institute, the capillary action of the Votorantim Group and Votorantim Institute's management capacity in the pursuit of transforming results from social investments are important conditions for the partnership. Vicintin explained that the performance of the two institutions aims to "develop and generate wealth at the locations, and to strengthen the society's organization and coordination process."

According to Elvio Gaspar, Credit and Social Inclusion officer for the BNDES, the bank is very concerned with promoting balanced, regionally distributed development in Brazil. "One of the ways is through partnerships like this one", he said.

The agreement foresees, in addition to the structuring of productive activities and the provision of professional qualification to low-income populations, two other performance lines:

• Actions that contribute to sustainable territorial development, prioritizing the modernization of municipal public management and the reduction of infrastructure deficits;
• Collaboration with the Federal, State, and City governments to carry out programs and projects with emphasis on creating jobs and income.