The project consists of a senior and/or mezzanine quota subscription of up to BRL40 million in Brazilian Real. The quotas will be issued by Green FIDC Origo, a receivable rights fund to be organized in accordance with the Brazilian laws and regulations.The fund was designed to disintermediate the access to Brazilian capital markets for renewable energy projects - reducing the cost of capital and facilitating long-term financing. The fund will purchase the receivables of long-term financing contracts of solar-rooftop systems originated by Origo. IDB Invest will provide conditions that are not available from commercial sources to help Origo develop a new product and business model to promote energy efficiency, financing access and support capital market development in Brazil. The proposed project will be approved under the following IDB Invest delegated facility: "Debt Capital Markets Program". IDB Invest will provide technical assistance to design a framework that defines the selection, monitoring and evaluation of the receivable portfolio in a manner aligned with the Sustainable Development Goals ("SDG") defined in the framework of the United Nations Development Program so that the issuance is cataloged as green.
Contact name: Osvaldo Antunes Cruz Junior
Title: Diretor Executivo
Phone number: (19) 3517-7421
ACCOUNTABILITY MECHANISM OF IADB
The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IDB-Invest is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).