“The New Development Bank (NDB) and BNDES – The Brazilian Development Bank signed today a loan agreement with the amount of USD 300 mln aiming at developing the renewable energy sector in the Federative Republic of Brazil. The Loan Agreement was signed by Mr. Xian Zhu, Vice President, Chief Operations Officer of the NDB, and Mr. Marcelo Siqueira, BNDES Legal Director. The signing ceremony was witnessed by Mr. Dyogo Oliveira, Minister of Planning, Development and Management of Brazil and Mr. K.V.Kamath, the President of the NDB.
The Loan is called upon to facilitate sustainable development of energy infrastructure of Brazil through investments in at least 5 renewable energy and associated transmission projects. A part of the Loan has also been earmarked for the purpose of on-lending by BNDES to projects by way of debentures. This would assist BNDES in its efforts to develop an alternative financing source for renewable energy projects and facilitate in further development of secondary market for infrastructure financial instruments.”