BNDES gets US$666mn loan from Europe's EIB to finance renewable energy projects

Thursday, October 6, 2011

Brazilian national development bank BNDES has obtained a loan of 500mn euros (US$666mn) from The European Investment Bank (EIB).

The loan will be used to finance projects in the renewable energy sector supporting climate change mitigation, EIB said in a press release.

The loan is provided under the 4.5bn-euro Energy Sustainability and Security of Supply Facility (ESF). This will be the first operation structured under the ESF in Brazil and the first operation with BNDES.

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