The writing of this paper was motivated by one of the most important elements of these first years of the third millennium: the search for a new generation of productive and innovative policies, designed in a way that ought to guarantee inclusion, equity and sustainability. The analysis of policies implemented, in Brazil and around the world, gave a relevant learning to design new sustainable development policies, with greater capacity to recognize and accept the less developed regions demands, considering their diversities and specificities, in order to reduce inequalities. This is the aim of this chapter: to identify what we learned in Brazil, to analysis BNDES’s specific experience and to give some clues for policies improvements.