BNDES to borrow from NDB for climate fund

BNDES to borrow from NDB for climate fund

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Brazil's national development bank BNDES said Monday that it plans to borrow $500 million from the New Development Bank (NDB) for a national climate fund called Fundo Clima. The NDB will disburse the loan over four years, and BNDES will pay it back in 11.5 years. The money is expected to cover up to 20% of financing for at least five projects in public transit, waste removal, renewable energy, land conservation and programs to lower greenhouse gas emissions among others, BNDES said in a press re

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