Brazil’s National Development Bank (BNDES) and the Inter-American Development Bank (IDB) formalised a $900m agreement over financing for renewable energy projects in the country as part of a new facility approved by both banks.
The Programme for Financing for Sustainable Energy signed in São Paulo today will include $750m from the IDB and $150m from the BNDES. This is the finalisation of an MoU signed at the end of 2016 in which BNDES agreed to disburse the money within four years, with loans based on the three-month Libor rate on top of IDB’s own loan cost.
