418. We would like to thank the proponents of the discussions for reintroducing issues related to IP and financing, now with a focus on microfinance. Brazil supports the continuity of the debates on those issues and is eager to listen to Members experiences in that regard. The Brazilian Government is convinced of the importance of these discussions and is working to promote a favourable environment for the use of IP as a collateral for credit purposes in Brazil. At this point, we are investing our efforts in mapping the situation on the ground so that we can have a better understanding of the scenario of IP financing in Brazil and its related challenges. To that end, we are cooperating with WIPO to elaborate a study on the IP financing landscape in Brazil. We believe this study will give us important insights for public policy in this realm. We reiterate our interest in and support for this discussion and look forward to future debates on these issues.