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Proparco, FMO and FinDev Canada support Coruripe in their production of sugar and bioethanol from certified sugar cane in Brazil

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Proparco and Coruripe 2026
Proparco and Coruripe

Proparco, FMO and FinDev Canada have signed a senior term loan with Usina Coruripe Açúcar e Álcool S.A. (Coruripe), one of Brazil’s leading sugar and ethanol producers, with Proparco and FMO each providing USD 30 million and FinDev Canada providing USD 40 million, to support the company’s investment plan related to the cultivation of certified sugar cane.

Established in 1925 in the State of Alagoas, Coruripe is an agribusiness company incorporated in Brazil and currently ranks as the eighth largest sugar and ethanol producer in the country.

Proparco acted as lead agent for this transaction and FMO took the lead in the Environmental and Social Assessment. This financing is fully dedicated to financing Coruripe’s capital expenditure plan related to the production of bioethanol and sugar from certified sugar cane. Sugar is a strategic sector for the Brazilian economy, and the development of sustainable fuels plays a central role in Brazil’s decarbonization strategy. By supporting the cultivation of certified sugar cane, the project will contribute to the transition toward lower-carbon energy sources while strengthening the resilience and sustainability of a key agricultural value chain. 

The project is expected to generate positive climate and development impacts, in total estimated to avoid  approximately 270 kilotonnes of CO2 equivalent per year. The transaction will directly contribute to Sustainable Development Goal 8 on decent work and economic growth, as Coruripe promotes economic development in the regions where it operates, and to Sustainable Development Goal 13 on climate action. With five sugar mills and associated agricultural clusters, Coruripe is a major employer in the states of Alagoas and Minas Gerais, supporting around 7,923 permanent jobs. 

Through this new transaction, Proparco, together with co-lenders FMO and FinDev Canada, reaffirm their long-standing commitment to supporting sugar cane and bioethanol producers in Brazil, building on several previous operations in the sector. 

By supporting Coruripe’s investment plan, Proparco is contributing to the development of a more sustainable sugar and ethanol industry in Brazil, combining climate ambition, industrial performance and local economic development. This project illustrates how long-term financing can accelerate the decarbonization of strategic sectors while delivering tangible social and economic benefits in the regions where they operate.

Julien Vanhooydonck

  • Regional director for the Southern Cone at Proparco

By providing a 100% Green long term loan dedicated to Bonsucro certified sugarcane production, FMO is proud to support Coruripe in strengthening the sustainability and resilience of one of Brazil’s key agricultural value chains. Through this partnership, we aim to contribute to lower carbon sugar and bioethanol production, safeguard labor and biodiversity standards across the supply chain, and create long term economic opportunities in the regions where Coruripe operates.

Anton Timpers

  • Manager Agribusiness, Food & Forestry at FMO

FinDev Canada is proud to support Brazil’s decarbonization efforts through its investment in Usina Coruripe. By partnering with committed institutions, such as Proparco and FMO, we are promoting stronger development impact in the bioethanol sector, strengthening local markets, and advancing climate action and gender equality across the country.

Paulo Martelli

  • VP and Chief Investment Officer, FinDev Canada.
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