BRAZIL: ReCivitas continues to expand private-funded BIG
ReCivitas, the Brazilian organization that distributes a privately-funded basic income in a small village in Brazil, now has a pro-bono partnership with the biggest tax law office in Latin America, Mattos Filho, Veiga Filho, Marrey Jr. and Quiroga. This partnership will give ReCivitas legal support for contracts for people who invest in the BIG Bank that supports the initiative. The BIG Bank, started by ReCivitas only a few weeks ago, already has 500,000 Brazilian Reals (About US$310,000)—thanks to donations and investments from as far a way as Japan. A small part of the interest to this fund will support the Basic Income, but the amount of investments in the fund is already enough to ensure that the project is sustainable at its current level. The organizers of ReCivitas say that the fund is very conservative and ethical and that the fund manager is one of the biggest in Brazil, Credit Suisse Heding-Griffo. The organizers hope soon to use some of the money to support the basic income pilot project in Namibia, and they plan soon to expand to Germany.