IDB Invest pulls out of Marfrig loan

IDB Invest pulls out of Marfrig loan

International Financial Institutions Inter-American Development Bank (IDB) IDB Invest Loans Debt ESG Sustainability-Linked Brazil United States

IDB Invest, an affiliate of the Inter-American Development Bank (IDB), has withdrawn from plans to participate in a $200 million syndicated loan for Brazilian meatpacker Marfrig, the multilateral lender confirmed in a statement. Washington DC-based IDB Invest disclosed in April that it could contribute $43 million to the loan to fund Marfrig's Verde+ program to make the beef supply chain "sustainable and deforestation-free." After reviewing the plan last year, however, IDB Invest "discussed the

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