Financial Instruments for Brazil Energy Efficient Cities - FinBRAZEEC (WB-P162455)

Countries
  • Brazil
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 29, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Brazil
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 1,324.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Aug 3, 2018

Disclosed by Bank Jan 12, 2018


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Project Description

According to the bank, the objective of the Financial Instruments for Brazil Energy Efficient Cities Project is to unlock private financing for urban energy efficiency projects in Brazil by reducing the credit risk and enhancing the technical quality of Efficient Street Lighting subprojects and Industrial Energy Efficiency subprojects. There are two components to the project, the first component being EE facility for efficient street lighting and industrial energy efficiency. This component includes two subcomponents: private financing for ESL and IEE subprojects, to provide sub-loans to beneficiaries for ESL subprojects and IEE subprojects through a loan syndication with commercial lenders, led by CEF; and credit enhancement products - the project will capitalize the GF to allow credit enhancement products for ESL subprojects and IEE subprojects. Finally, the second component is the Technical Assistance (TA) consisting of GCF US$4 million recipient executed grant, and US$1 million Bank executed grants provided by the Global Infrastructure Facility (GIF) and ESMAP. The TA component of this project will support essential technical studies, capacity building for the departments of CEF involved, and early operational costs. In the case of IEE, these funds will be used to support technical studies and initial implementation efforts (for example, structuring of off-balance-sheet funds to support scale-up of IEE investment). In the case of ESL, the TA will support cities’ preparation of high-quality PPP subprojects. The GIF and ESMAP funds are being used to support financial structuring of the project and to conduct pre-feasibility studies for PPPs for ESL subprojects in selected cities. A detailed procurement plan and procurement strategy for the recipient executed TA funds (GCF) have been prepared 

Investment Description
  • World Bank (WB)
Contact Information

ACCOUNTABILITY MECHANISM OF WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.