The NDB will support the Banco Nacional de Desenvolvimento Econômico e Social (BNDES) with a two-step loan to on-lend to renewable energy projects and associated transmission projects. The objective of the NDB’s financing is to provide an alternative financing source for BNDES to facilitate development of infrastructure. BNDES is a 100% state owned national bank for economic and social development. BNDES is the main financier for infrastructure projects.
BNDES will finance at least 5 sub-projects under the proposed loan. The proposal for sub-loans will be subject to eligibility criteria and the NDB’s appraisal, where the sub-loan financing is in excess of USD 70 million or assessed as an Environmental or Social Category A. The aggregate exposure for projects in any one of alternative renewable energy areas will not exceed 60% of the total loan amount, to diversify the development. Sub-loan for any single sub-project will be limited to maximum 25% of the total loan.
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