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.