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BNDES Took Out a Loan of R$ 1 Billion with the Government of Japan. The Objective Is to Finance Clean Energy Projects in Brazil, Such as Solar, Wind, and Energy Efficiency Initiatives
The National Bank for Economic and Social Development (BNDES) announced on Tuesday (25) the signing of a loan of US$ 190 million, equivalent to about R$ 1.077 billion. The amount will be used to finance renewable energy transmission projects and biofuels that contribute to the reduction of greenhouse gas emissions in Brazil.
The operation was finalized in Tokyo during President Luiz Inácio Lula da Silva’s visit to Japan.
The funds were obtained in partnership with the Japan Bank for International Cooperation (JBIC), Citibank N.A. Tokyo Branch and The Nishi-Nippon City Bank Ltd.
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International Partnership for Green Economy
According to the director of productive development, innovation, and foreign trade at BNDES, José Luís Gordon, the partnership between the institutions strengthens the relationship between Brazil and Japan.
He emphasized that both countries have the potential to work together in the so-called green economy.
“This partnership addresses an important area, which is the green economy, where both countries have a lot to work on together, such as in the development of sustainable fuels, like SAF, critical minerals, sustainable mobility, and renewable energy,” he stated in an official statement.
The raised funds will be used in energy transmission projects and also in renewable energy sources. This includes small hydropower, solar, wind, and biomass energy ventures.
Expansion of International Financing
The president of BNDES, Aloizio Mercadante, stated that the institution has been seeking to expand its operations with international financial entities.
The goal, he indicated, is to diversify funding sources and increase investments in strategic areas in the country, with a focus on renewable energy generation.
“BNDES has strengthened its partnership with international financial institutions with the aim of diversifying its funding and increasing investments in Brazil, especially in strategic areas such as renewable energy generation. JBIC is one of BNDES’s main partners. Since the 1960s, 18 loan contracts have been signed for approximately R$ 18 billion (US$ 3.2 billion),” Mercadante said in a statement.
In addition to the loan, BNDES also signed a memorandum of understanding with JBIC. The document formalizes cooperation between the institutions in supporting sectors deemed strategic, such as mineral resources and sustainable energy.
With information from agenciagov.
