Nov 21, 2014

The Brazilian Development Bank (BNDES) received a US$ 206 million loan from the French Development Agency (AFD). The contract was signed on October 21, in Paris, by the president of the BNDES, Mr. Luciano Coutinho, and the Chief Executive Officer of the AFD, Ms. Anne Paugam. The term is for 12 years, with a three-year grace period. This is the first operation between the two institutions.
 

Resources will be earmarked to finance projects aimed at achieving positive impacts for the climate in areas such as renewable energy and energy efficiency in order to help reduce greenhouse gas emissions. Priority sectors include wind power, solar energy, small hydroelectric plants, biomass cogeneration, energy efficiency and technological innovation.

The AFD consolidated its efforts in Brazil in 2007, when its representation Office was inaugurated in Brasília, focusing on supporting green and inclusive growth, in particular though the fight against climate change.

Brazil is the world’s seventh and South America’s largest consumer of electric energy. It is also the largest market in renewable energy, according to the UN’s report, entitled Global Trends in Sustainable Energy Investment. The country represents more than 90% of the new instruments in the sector in Latin America, most of which are financed by the BNDES.