IFC funds electric car loans in Brazil

IFC funds electric car loans in Brazil

Loans Debt Coronavirus Brazil United States ESG Renewable Electricity

The International Finance Corporation (IFC), the private sector division of the World Bank Group, said Tuesday that it had arranged $265 million in financing for Banco Alfa to offer loans for the acquisition of flexible-fuel, electric and hybrid vehicles. IFC supplied $100 million from its own account and mobilized $65 million in financing from Itaú BBA, Santander, and Banco de Occidente. It also expects to release another tranche for $100 million in 2021, IFC said in a press release. Brazil is

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