IFC Invests BRL 150 Million in CerradinhoBio to Support the Growth of Renewable Energy Production in Brazil
(The Financial) IFC, a member of the World Bank Group, will provide BRL 150 million of long-term financing to CerradinhoBio, an ethanol and biomass-based electricity producer operating in the state of Goias, in Brazil.
This investment will support the growth of the sugar and ethanol industry and help to further develop renewable energy production in the country, according to IFC.
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“Agribusiness is a strategic priority for IFC because of its potential for development and poverty reduction,” said Luiz Daniel de Campos, Principal Investment Officer, Agribusiness Department, IFC Brazil. “We are pleased that our support to CerradinhoBio will also help enhance sustainability standards in the industry as well as support the growth of renewable energy initiatives in Brazil.”
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