BNDES rolls out biofuels credit line

BNDES rolls out biofuels credit line

Corporate & Sovereign Strategy Economy & Policy Funds Debt Loans Energy Renewable Brazil Latin America

Brazil's national development bank BNDES said Wednesday that it has introduced a BRL1 billion ($185 million) credit line for biofuels producers that meet or exceed greenhouse gas emissions targets. RenovaBio, as the new program is called, offers eight-year loans with a two-year grace period that start at the TLP lending rate plus 1.5% but can go down to TLP plus 1.1% if the borrower hits targets for carbon dioxide emissions, the development bank said in a statement. BNDES will use certificates c

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