$115m Brazil green project package

Commerzbank, Inter-American Development Bank (IDB) and Banco Pine have put together a $115m package to expand access to financing for environmentally-sustainable projects in Brazil.

The Green Line Finance Partnership comprises a $75m from the IDB and $40m from Commerzbank.

The partners said Brazil's surging power demand is likely to see its energy matrix shift towards a higher concentration of renewables.

“Throughout Latin America and the Caribbean, financial institutions fulfil an essential role in lifting green growth projects off the ground by facilitating their access to financing options,” said Marcelo Paz, project lead for the IDB.

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