AIIB Approves First Project in Brazil
25 January 2022
The Asian Infrastructure Investment Bank (AIIB) has approved USD100 million in on-lending funds to Brazilian development bank Banco de Desenvolvimento de Minas Gerais S.A. (BDMG) for the BDMG Renewables and Asia Connectivity Facility.
The funds are expected to support companies or institutions operating in renewable and infrastructure-related fields in and around Minas Gerais, a large inland state in southeastern Brazil.
In addition to supporting renewable energy projects, the facility is part of Brazil’s government-backed Asia Connection program, which aims to attract Asian companies, research institutions and financiers to invest in projects in Minas Gerais to promote trade, technology and knowledge exchange across regions. AIIB will provide long-term capital to BDMG so the latter can finance projects in renewables and the infrastructure sector.
Related
-
Slovenia preparing hydrogen action plan until 2030
23 June 2025
-
India allocates $630m for 30 GWh of batteries
12 June 2025
-
Serbia shelves plan for strategic partnership for 1 GW in wind farms
11 June 2025
-
Alstom to modernise Sao Paulo’s signalling system
4 June 2025
-
Mexico starts first four lines in $58bn rail expansion plan
29 May 2025
-
SUPCON to explore industrial digital transformation in Latin America
29 May 2025