The Brazilian Development Bank - BNDES has a long history promoting sustainable economic and social development. In addition to traditional credit (directly or through financial agents) and equity participation, it offers project structuring services, guarantee fund management and applies non-reimbursable resources to encourage projects with positive social and environmental impact. In line with most recent trends of development institutions and best global practices, it is starting to use Blended Finance structures to leverage private resources and achieve the Sustainable Development Goals (SDGs). The objective of this article is to demonstrate lessons learned from its initiative and point out paths and challenges in promoting the agenda in the country.