The contract was signed within the framework of the Green line, which supports projects aimed at environmental preservation
The Brazilian Development Bank (BNDES) and the Japan Bank for International Cooperation (JBIC), the Mizuho Bank, Ltd. and The Bank of Saga Ltd. on Wednesday, 19, in Rio de Janeiro, signed a financing contract worth US$ 100 million. The operation was conducted in the framework of the Global Action for Reconciling Economic Growth and Environmental Preservation (Green), which supports projects aimed at the preservation of the global environment, promoting the reduction of greenhouse gas emissions and the generation of energy from renewable sources.
The resources should be invested in BNDES’s wind energy projects, portfolio with investments in the generation of renewable power from other sources, such as biomass and solar power, also being eligible for example.
The financing contract is the fifth signed between BNDES and JBIC, the Japanese Development Bank, within the framework of the Green line. The first four were signed in 2011, 2014, March 2015 and December 2015.
Since the 1950s, BNDES has been operating in partnership with multilateral organizations and governmental agencies to diversify and expand its source of financing resources. The relationship between BNDES and JBIC started in 1962 and, since then, 17 other contracts have already been signed between the two institutions. With the signing of this 18th agreement, BNDES resumes its strategy of expanding its relationship with international financial institutions and promoting the financing of sustainable energy projects.
Partner – JBIC was created in 1999 from the merging of The Export-Import Bank of Japan (J-Exim) and The Overseas Economic Cooperation Fund (OECF), as a financial institution fully controlled by the Japanese state. In addition to contributing to the development of Japan, it also has the commitment of contributing to the sustainable development of foreign countries, thus strengthening the economic relations between Japan and the international community.