IDB Offers Financing for Brazil Bioenergy

The Board of Directors of the Inter-American Development Bank (IDB) have approved its first private sector financing for a bioenergy project in Brazil for a total of US$120 million to Usina Moema Acúcar e Alcohol Ltda., a major sugar, ethanol and bio-energy producer based in the State of São Paulo, that is operating in one of the fastest growing industries in Brazil and worldwide. This operation is part of IDB’s initiative to promote the structuring of senior debt financing for five Brazilian ethanol production projects that will have a total cost of US$997 million. These investments will contribute to Brazil ‘s goal of tripling annual ethanol production by 2020.