IFC Approves $80m Cemar Loan

The IFC has approved an $80m equivalent 8-year BRL-linked loan to Brazil’s Companhia Energética do Maranhão (Cemar) to improve and expand its electricity distribution system. This is IFC’s first BRL-linked loan for Brazil’s power sector and its first local currency disbursement to a non-financial sector company in the country. Pricing was not disclosed. IFC says the deal will help Cemar expand service in rural areas, as well as strengthen reliability and quality.