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Strengthening Climate Finance in Brazil: Proparco Partners with BTG Pactual
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• Proparco is strengthening its partnership with BTG Pactual S.A. through a USD 50 million loan.
• Announced on the occasion of FELABAN’s 60th Annual Meeting, this new transaction aims to expand BTG Pactual’s portfolio of climate change mitigation and adaptation investments in Brazil.
Brazil plays a central role in the global response to climate change, with vast natural resources, a largely renewable power mix and some of the world’s most important ecosystems. At the same time, the country faces substantial and growing investment needs to reduce greenhouse gas emissions and adapt to the impacts of climate change.
Through this new facility, Proparco will support BTG Pactual S.A., a key player in sustainable finance in Brazil, with long-term resources to finance investments that contribute to climate change mitigation and adaptation. The operation will help close the climate financing gap, reduce greenhouse gas emissions and strengthen resilience to climate risks in Brazil.
The financing is structured to support Proparco’s strategic priorities in the country: 100% of the facility will support climate change mitigation or adaptation investments.
Paulina Gonzalez, deputy head of Financial Institutions at Proparco, stated: “This new operation with BTG Pactual reflects Proparco’s commitment to supporting Brazil’s transition toward a low-carbon and climate-resilient economy. By expanding access to long-term financing for climate mitigation and adaptation projects, we aim to help close the climate financing gap and strengthen the country’s resilience to the impacts of climate change. This transaction strengthens our relationship with BTG Pactual and marks our second collaboration, following a first USD 140 million climate finance transaction in 2020, co-financed at the time with our partners at DEG.”
Caio Zanette, global head of Banking, Relationship and Funding at BTG Pactual, stated: “BTG’s and Proparco partnership has been grounded in a shared ambition to expand our sustainable portfolio in Brazil. We are pleased to deepen this relationship through a new transaction in which we can channel capital to clients fostering climate initiatives, reinforcing our ability as one of the main contributors to a low-carbon and more resilient economy in Brazil.”