Home / News & Events / Archive

Brazil Chambers Launch Social Market

2004-11-05 

The Confederação das Associações Comerciais do Brasil (The Confederation of the Brazilian Chambers of Commerce) is launching a "Social Market" designed to raise capital for projects that seek to contribute to the sustainable development of Brazil. The initiative is supported by a number of organizations including Gerdau Group, Ethos Institute, Sebrae as well as numerous micro and small enterprises. The first "social auction" of the Social Market will take place in Maringá, in the state of Paraná. Five projects have been selected for the auction with a target investment of R$100 thousand (US$30,000) per project. The projects are diverse in nature, ranging from the production of dry tomatoes to the manufacturing and cleaning of hospital clothing. It is estimated that during the first year, 340 jobs will be created. It is envisioned that successful projects will, at a later stage, offer shares or debentures to investors.

Please contact Ms. Marielza Oliveira (marielza.oliveira@undp.org.br) of UNDP Brazil for more information.