The CAE (Committee on Economic Affairs) of the Federal Senate approved the authorization for Brazil to contract a loan of up to US$1 billion from the IDB (Inter-American Development Bank).
The operation is linked to Eco Invest Brasil, a Federal Government program aimed at mobilizing private capital for green and sustainable investments.
In a statement, the Senate informed that the program seeks to contribute to the country's sustainable growth through public policies, attracting investments, and improving the business environment in the sector.
The funds will be released after the conditions stipulated in the contract are met and incorporated into the public debt fund. According to the STN (National Treasury Secretariat), the amount will be used to pay the service of the federal public debt.
The IDB will be responsible for disbursing up to US$1 billion in a single installment, and Brazil will have two years from the date the contract comes into effect to receive the funds.
The loan will have a 66-month grace period and a 20-year repayment term, starting from the signing of the contract, with semi-annual payments. The loan authorization now goes to the Plenary for urgent review.
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