June 28, 2017 |
Brazil's Sao Martinho has secured $90m in funding through the IFC to increase sugar and ethanol production.
The IFC has provided an eight-year A loan for $60m and brought in the Dutch bank ABN Amro for a five-year $30m B loan, the multilateral agency said in a statement.
Sao Martinho had requested an A/B loan for up to $100m earlier this year to help cover investments in the next harvest. Brazil's fourth largest sugarcane procession company has said it plans to increase production by 18.5% in th
Brazilian sugar and ethanol producer lines up a $90m A/B loan through the multilateral agency