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BNDES and KfW celebrate a US$ 142 million credit line

12/21/2017

The ProClima Program will support renewable energies and energy efficiency projects
 

The Brazilian Development Bank (BNDES), on Wednesday the 20th, signed a new collection of external funding in the amount of US$ 141.720 million, with the German development bank, Kreditanstalt für Wiederaufbau (KfW). 

The operation will contribute to mitigate climate change by supporting projects involving energy efficiency and renewable energy (solar, wind, small hydropower plants and bioenergy using residues, public lighting and cogeneration in industry). 

The contract will also help meet a growing demand in Brazil for financing projects aimed at generating energy from alternative sources, to diversify the Brazilian energy network, as well as to promote the necessary energy saving in times of scarcity.

In this way, BNDES and KfW contribute to preserve the global environment in the context of the DKTI (German Climate Technology Initiative). The DKTI is a joint initiative of KfW and the Brazilian Federal Ministry for Economic Cooperation and Development (BMZ), which has the goal of encouraging emerging and developing countries to invest in efforts focused on the environment and on climate protection.

History – KfW is a historic bank, 80% of it being controlled by the Federal Republic of Germany and 20% by its federated states. It was created in 1948 with the objective of financing projects to reconstruct the German economy in the postwar period. Since then, the Bank has diversified its activities to finance investments out of Germany, particularly in developing countries.

The relationship between KfW and BNDES began in the 1960s and, in 2015, the institutions celebrated 50 years of cooperation. Throughout this relationship, 14 loan operations have been contracted between these institutions, amounting to US$ 1.07 billion.

 

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