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Brazil gets USD667m loan for clean energy projects
The Brazilian Development Bank (BNDES) has secured a EUR500m (USD666.8m) loan from the European Investment Bank (EIB) to finance climate change mitigation projects in the country. The loan will predominantly support small and medium-sized renewable energy projects, but will also finance projects in energy efficiency, heating and cooling, power generation and climate change adaptation. Projects to be funded are likely to include small-scale hydropower plants, wind farms, biogas or biomass-fired heat and power plants, as well as manufacturing facilities for renewable energy equipment. The loan is being provided through the EIB’s EUR4.5bn (USD6bn) energy sustainability and security of supply facility.
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