The new BNDES president is expected to increase the focus on transparency at Brazil's biggest development bank.
The project will benefit the entire population of Brazil's Rio Verde city.
Large quantities of water are needed for the operation of the canal's locks.
The new rules seek to boost local participation in the structuring of projects.
The plan is aimed at mitigating the drought and floods that specific regions in Costa Rica are expected to face in the upcoming months.
The work will benefit 2,000 people in São José do Norte.