IDB loans Brazilian bank $125 million for biofuels and renewables projects

In Washington, the IDB approved a Green Line Partnership with Banco Pine S.A. in Brazil to expand access to financing for environmentally sustainable projects, particularly biofuels and renewable energy projects. The IDB will provide an unsecured A/B loan of approximately $125 million to Banco Pine for working capital and long-term loans in these sectors, and to finance capital expenditures. The partnership is expected to increase Pine’s green portfolio by $600 million in the next five years, which in turn will contribute toward achieving the government’s goal of refocusing Brazil’s energy matrix on more environmentally friendly sources by 2021.