Brazil's BNDES gets from Japan USD-100m credit line for renewables

The Japan Bank for International Cooperation (JBIC) has agreed to set up a credit line of up to USD 100 million (EUR 91.5m) to support, through the Brazilian Development Bank (BNDES), renewables projects in Brazil.

JBIC said it would provide USD 50 million of the amount. The credit facility is co-financed with Mizuho Bank Ltd, as lead arranger, and The Bank of Tokyo-Mitsubishi UFJ Ltd. JBIC also announced a partial guarantee for the cofinanced portion.

This credit line is intended to support renewable energy in Brazil, including wind and biomass power projects, JBIC said. This is the fourth loan for BNDES and Brazillian renewables coming from JBIC and co-financers under the GREEN Initiative. The table shows all four loan agreements.

JBIC and BNDES have worked together for about 50 years, with the Japanese bank extending loans and providing technical assistance for industrial investment, export promotion, and infrastructure development in Brazil, among other areas.

(USD 1 = EUR 0.915)

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