$150 million fund formed to provide short, mid-term financing for Latin American bioenergy

In Brazil, the Inter-American Development Bank announced that it will provide a senior loan of $75 million for a fund that will make short-term trade financing and mid-term investment loans to sugar and bioenergy companies in Brazil, Mexico and Central America.  US-based Reservoir Capital Group will invest an additional $75 million to bring the fund to $150 million.

The fund will be managed by Latin American Capital Management (LACFIN). Fund management said the fund could be expanded to as much as $250 million with additional participation from LACFIN and other commercial banks.

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