Proparco signed a €90 million loan (BRL 342 million) to Enel Green Power to finance the 254MW Ituverava photovoltaic solar power plant. This solar park, South America’s second largest, is located in the municipality of Tabocas do Brejo Velho in the State of Bahia and will be able to generate over 550GWh a year.

Proparco opened its office in São Paulo in 2007. Regional office covers: Argentina, Brazil, Chili, Paraguay, Suriname, Uruguay, Venezuela.

Yesterday Proparco granted a €15 million subordinated loan to Manuchar, a Belgian-based commodities trading and logistics company. These funds will enable Manuchar to grow the business and enhance the storage facilities of two of its agri-food subsidiaries in Brazil and Vietnam.

This project in support of the Tereos Group is in many ways one of the most important in our Brazilian portfolio. First of all because it provides support to a key sector in the Brazilian agro-industry, and this type of approach has historically been central to PROPARCO’s strategy. This project is also essential to us because of what it covers and because of its positive impacts, in particular with respect to climate.

Through this US$40 million 10-year loan, for which the signing ceremony took place on November 10, 2022, Proparco will support the company’s actions to address climate challenges and promote socio-economic development in its Brazilian juice value chain.

Proparco has just granted a five year $75 million senior credit line to Banco Daycoval, a financial institution committed to supporting SMEs. This new partnership, announced following FELABAN's 57th Annual General Meeting, aims to support the development of the Brazilian bank's portfolio of climate co-benefit loans.

Proparco has reaffirmed its confidence in Tereos Sucre & Énergie Brésil in the form of USD 40m of financing. This program is allowing the sugar producer to increase its access to a transport and export logistics structure in Sao Paulo State in order to improve its efficiency and sustainably reduce its environmental impacts.

Significant progress has been achieved in the education sphere since the World Education Forum in Dakar in 2000. In ten years, the number of children attending primary school in the world’s developing countries has risen - by more than 40 million in low- and medium-income countries. This progress has steadily spread into secondary and higher education, too. Yet wider access to education has often been attained at the cost of quality.

By allocating a USD 30m loan to Tereos, Proparco is reiterating its support to a longstanding partner, in the construction of biogas production plants, which will allow the company to reduce its CO2 emissions, and with the installation of wastewater treatment units.

IDB Invest, a member of the IDB Group, has provided financing for US$200 million to Banco Sofisa S.A. (Sofisa) in Brazil, together with Proparco and FinDev Canada. The proceeds will contribute to increasing access to finance in Brazil by supporting the expansion of Sofisa’s SME portfolio.

The transaction consists of a USD 40 m senior loan Facility arranged by DEG, with USD 20 m provided by Proparco, to the Brazilian bank Banco Industrial do Brasil (BIB). The funds will support BIB’s lending activities in its SME business focus in the country.

Proparco is supporting Sicredi with a $30 million loan dedicated to women-owned micro, small and medium-sized enterprises (MSMEs). This transaction is part of a $125 million syndication led by DEG ($30 million) and three other investors: Commerzbank, IDB Invest and Symbiotics.

The context of the project is the increasing demand for healthcare in Brazil, resulting from the demographic growth and ageing population, but also due to the fact that more Brazilians now have access to health insurance, and therefore to hospital care. In practical terms, the project consisted in modernizing the existing facilities, as well as building and outfitting a brand new 18-storey building, which opened in 2014.

After Paris, Abidjan and Johannesburg, Proparco celebrated its 40th anniversary in São Paulo where its regional office has been financing development projects since 2007.

During this period of health and economic crisis, when foreign investment tends to recede from emerging markets, the AFD Group, via this climate loan, affirms its support to sustainable development in Brazil, particularly to the country’s fight against climate change.