The Inter-American Development Bank (IDB) has approved a Green Line Partnership with Banco Pine S.A. in Brazil to expand access to financing for environmentally sustainable projects, particularly renewable energy projects.

The IDB will provide an unsecured A/B loan of approximately $125M to Banco Pine for working capital and long-term loans in these sectors, and to finance capital expenditures.

The partnership is expected to increase Pine’s green portfolio by $600M in the next five years, which in turn will contribute toward achieving the government’s goal of refocusing Brazil’s energy matrix on more environmentally friendly sources by 2021.