August 26, 2021
Brazilian sugar and ethanol company Grupo Cocal has arranged $70 million in financing through the International Finance Corporation (IFC) to expand production, according to a press release on Wednesday.
Cocal will use the money for a $92 million investment program to build a new plant and replant 27,000 hectares of sugarcane plantations with "climate-smart techniques," IFC said in the press release.
IFC also said it contributed $40 million to the loan and arranged $30 million through Itaú BBA a
Brazilian sugar and ethanol company gets $70 mln in financing through the World Bank's private sector lender