Impact partnership between BNDES and Sitawi promotes appreciation of culture in Brazil

With significant results for Brazilian culture, the program Matchfunding BNDES+ Cultural Heritage closes. The initiative had the participation of several companies, philanthropic entities and civil society in favor of valuing and preserving Brazil's historical and cultural heritage.

During the campaign, more than R$ 6 million for cultural initiatives of different themes spread across all regions of Brazil. The program was created by BNDES. For every R$1 donated by the public, more R$2 was invested by the bank. Sitawi managed the financial resources and monitored the execution of the program's projects, together with Benfeitoria, the crowdfunding platform that coordinated the campaign and raised funds from the general public.

Altogether, more than 98% of donations were from individuals – which underscores the strong engagement of civil society to foster projects that promote the legacy of Brazilian tangible and intangible heritage. Documentaries, restructuring works, accessibility actions are some of the many initiatives created and chosen by the public.

?Is it gratifying to be able to see the transformation of each project and the legacy that the initiative will leave for Brazil?, emphasizes Wendell Borneo, supervisor of Philanthropy Management at Sitawi.

However, some obstacles were faced during the implementation period. The BNDES+ Heritage Matchfunding Program started in 2019, it was also affected by the Covid-19 pandemic. Ana Paula Campello, Philanthropy Management analyst at Sitawi, comments that it has been a great challenge for the culture to maintain itself in recent years.

?With the social isolation measures, many projects had to paralyze their activities or even make changes to the initial proposal. Sitawi closely monitored the status of each property and, in line with the BNDES, extended the deadlines so that everyone could carry out their heritage preservation activities within current health regulations.”

Integration between past, present and future

This was the largest crowdfunding promotion program in Brazil. In all, 90% of the campaigns reached the established goal, where 42 projects benefited through matchfunding.

According to Wendell, the fund was a game changer for Sitawi. ?Have we learned important lessons learned for the implementation of processes and procedures in the organization and, also, with the success of the logic and resource management from matchfunding?, highlights.

Ana Paula also highlights support for the cause of culture. ?We don't have many cultural funds in our portfolio and managing one of this size and importance was certainly a great achievement for Sitawi?, explains.

During the four years of operation, with a lot of innovation and good relationship, the Sitawi team closely monitored the projects, efficiently rendering accounts. ?The legacy is not only for the projects, but also for all Brazilians to democratically access our history and culture?says Wendell.

Know more!

The success of this campaign opened the door to new funds with the BNDES, such as Salvando Vidas, with a focus on combating the Covid-19 pandemic. Look here.

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