EIB provides EUR 200m for residential, SMEs solar projects in Brazil

• The European Investment Bank (EIB) revealed on Friday it is giving a EUR-200-million (USD 215.2 m) lending to Sicredi, a Brazilian participating banks, to fund the application of solar systems on homes, small as well as medium-sized companies, as well as rural properties.

According to EIB, the setup of photovoltaic or pv (PV) panels will add 100% to climate action and also support Brazil's ten-year nationwide energy growth strategy, which targets the rise of renewable resource in the yearly electrical power generation mix.

"The European Investment Bank is settling in the country and also uses a really vital chance for us to expand this work as well as we hope this will be the initial of many joint actions in support of the ecological, social, as well as administration agenda (ESG)," claimed Cesar Bochi, Sicredi Chief Executive Officer.

Sicredi has greater than 6.5 million participants and also 2,500 branches across all areas of Brazil.