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LatAM GEF CLIMATE FUND
Proparco has partnered once again with GEF by investing in its GEF LatAm III fund.
Client presentation

GEF is a global player in private equity dedicated to investment in the USA, South Asia and Latin America in medium-sized and midcap companies that generate climate co-benefits and/or are resource efficient. Proparco has been a partner of GEF since 2019 for the South Asia Growth Fund II dedicated to South Asia (mainly India).

Project description

Proparco has invested in the first closing of the GEF LatAm III fund which has a target size of USD 200m. It is GEF’s third vehicle dedicated to Latin America (mainly Brazil). Its objective will be to invest in tickets ranging between EUR 10m and EUR 20m in SMEs and midcaps that generate climate co-benefits or promote an efficient and rational use of natural resources.

Project impact

On the environmental front and based on the performance of the predecessor fund, the GEF LatAm III fund should avoid a significant volume of tCO2e emissions. On the economic and social front, the fund should support some 2,800 jobs in Brazil. 
The project should thereby contribute to the achievement of SDGs 8 (“Decent work and economic growth”) and 13 (“Climate action”). 

04/22/2022
Date of signature of the project
Brazil
Location
Financing tool
23 600 000 Euros
Amount of funding
USD 25m Equity Investment
Financing details
GEF Latam Climate Solutions Fund III, LP
Client
CES