Brazil’s Banco BV is looking to borrow up to $220 million from International Finance Corporation (IFC), the private sector division of the World Bank.
IFC is considering Banco BV’s request for a five-year loan of up to $150 million and the arrangement of a trade finance facility for as much as $70 million, according to the lender’s website.
The bank plans to use part of the proceeds for solar power systems in Brazil, including the purchase of equipment and installation costs, IFC says.
São Paulo-based Banco BV, formerly known as Banco Votorantim, is the lending arm of Brazilian conglomerate Votorantim.