JBIC to Provide Credit Line to BNDES for Renewable Projects

(Bloomberg) — The Japan Bank for International Cooperation
will set up a credit line of as much as $100 million with Banco
Nacional de Desenvolvimento Economico e Social, or BNDES, for
renewable energy projects.

The credit line, which includes $50 million from JBIC, is
co-financed with Mizuho Bank Ltd. and the Bank of Tokyo-Mitsubishi UFJ Ltd., JBIC said in a statement Thursday. JBIC
will provide a partial guarantee for the co-financed portion.

The arrangement will be used to finance renewable energy
projects in Brazil such as wind and biomass power through BNDES.
JBIC made similar loans to BNDES in 2011, 2014, and earlier this
year, according to the statement.

To contact the reporter on this story:
Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at landberg@bloomberg.net
Iain Wilson

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