FP065
Financial Instruments for Brazil Energy Efficient Cities (FinBRAZEEC)
Financial Instruments for Brazil Energy Efficient Cities (FinBRAZEEC)
Providing a mix of public and private sector finance to provide funds for reducing energy intensity across Brazil.
Brazil has a high potential to achieve energy efficiency at scale given the country's high-energy intensity. Challenges exist, however, in mobilizing government and private investments. These challenges include government constraints caused by fiscal imbalances, and a steep decrease in private sector investment due to a slow recovery from several years of recession.
This project focuses on promoting energy efficiency to help Brazil meet its NDC goal by reducing energy demand. It will create a debt facility that catalyses private sector investments and channels loans to help cities adopt a standardized and replicable public-private partnership for street lighting. This will help provide off-balance sheet financing for energy efficiency to the industrial sector.
The project has an estimated lifespan of 15 years.
Project timeline
Pipeline
16 Oct 2017 • 137 days
Funding proposal received
16 Oct 2017
Cleared by GCF Secretariat
30 Nov 2017
Cleared by iTAP
06 Feb 2018
Approved
01 Mar 2018 • 718 days
Approved by GCF Board
01 Mar 2018
Legal opinion on AE's Internal Approval
20 Aug 2019
Lapsed
16 Feb 2020
-
Financing
- Private sector
- Public sector
-
Size
- Micro
- Small
- Medium
- Large
GCF financing
| Instrument | Amount |
|---|---|
| Loan | USD 186,000,000 |
| Grant | USD 5,000,000 |
| Grant | USD 4,000,000 |
| Total GCF Financing |
|---|
| USD 195,000,000 |
Co-financing
| Co-financer | Instrument | Amount |
|---|---|---|
| Co-Financing | Loan | USD 400,000,000 |
| Co-Financing | Loan | USD 180,000,000 |
| Co-Financing | Equity | USD 330,000,000 |
| Co-Financing | Guarantee | USD 200,000,000 |
| Co-Financing | Grant | USD 1,000,000 |
| Total Co-Financing |
|---|
| USD 1,111,000,000 |
GCF Contacts
General media inquiries
GCF CommunicationsSend e-mail
Request for information
GCF Information DisclosureRequest information about this project
Project complaints and grievances
GCF Independent Redress Mechanism (IRM)Phone +82 32 458 6186 (KST)
File a complaint
Integrity issues
GCF Independent Integrity Unity (IIU)Phone +82 32 458 6714 (KST)
Send e-mail
Entity
International Bank for Reconstruction and Development and International Development Association
Fund Manager, Global Climate Funds
More contacts
National Designated Authority
Secretariat for International Affairs, Ministry of Finance
Secretary for International Affairs
Esplanada dos Ministérios, Bloco P, 6° andar, Brasilia, Brazil
Deputy Secretary for Sustainable Development Finance
Esplanada dos Ministérios, Bloco P, 6° andar, Brasilia, Brazil
General Coordinator for Sustainable Finance
Esplanada dos Ministérios, Bloco P, 6° andar, Brasilia, Brazil
Documents
| Title | Type | Date |
|---|---|---|
| Notification related to FP065 | Notification | 16 Feb 2020 |
| Gender action plan for FP065: Financial Instruments for Brazil Energy Efficient Cities (FinBRAZEEC) | Gender action plan | 23 May 2018 |
| Gender assessment for FP065: Financial Instruments for Brazil Energy Efficient Cities (FinBRAZEEC) | Gender assessment | 22 May 2018 |
| Financial instruments for Brazil Energy Efficient Cities (FinBRAZEEC) | Approved funding proposal | 27 Mar 2018 |
| Environmental and social safeguards (ESS) report for FP065: Financial Instruments for Brazil Energy Efficient Cities (FinBRAZEEC) | Environmental and Social Safeguards report | 22 Feb 2018 |