In March, Brazil announced the BRL 32.9 billion ($16.7 billion) Inova Empresa Plan for innovation, which provides R&D funding for 2013 and 2014. Seventy-three percent of the funding is allocated to seven strategic pillars: agriculture and agribusiness, energy, oil and gas, health, defense, information and communication technology, and environmental sustainability. Funding is available through four credit programs, including BRL 4.2 billion for projects in which research institutes and companies partner, BRL 2.2 billion for purchasing shares in technology firms, and BRL 1.2 billion in economic subsidies. The largest credit amount, BLR 20.9 billion, is to be used for low interest rate, long-term loans, which are administered by the National Bank of Economic and Social Development, and the Studies and Projects Financing Agency, in cooperation with the Ministry of Science, Technology and Innovation. In addition, BRL 5 billion is designated for other sectors and small businesses. Additional funding for the oil and gas industry totaling BRL 4.4 million is to come from the National Petroleum Agency, the National Electricity Agency and the Brazilian Service of Support for Micro and Small Enterprises.

Source: Brasil.gov.br