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Brazil to Invest US$4.78 Billion in Biotech; Focus on Renewable Energy, Agriculture and Pharmaceuticals

Brazil will invest 10 billion reais (US $4.78 billion) over the next 10 years in biotechnology research focused on renewable energy, agriculture and rain forest pharmaceuticals. President Luiz Inacio Lula da Silva signed an order today creating the National Committee of Biotechnology to institute the policy.

Development Minister Luiz Furlan said that 60% of the funding would come from the government, including funds from the Brazilian Development Bank (BNDES), and 40% from the private sector.


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