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LatinNews Regional Monitor: Brazil & Southern Cone - 22 October 2019

In brief: Brazil’s Minas Gerais state to receive EIB climate investment

* The state development bank of Brazil's Minas Gerais state (BDMG) and the European Investment Bank (EIB) have signed an agreement according to which the EIB will invest €100m (US$111m) to support climate projects in Minas Gerais. The EIB funds will be allocated to renewable energy projects, as well as to supporting energy efficiency projects (particularly in public buildings, street lighting, and industrial facilities) and small businesses wishing to improve their environmental footprints. The projects funded under this programme are expected to be carried out over the next four years and provide 700 local jobs. BDMG president Sergio Gusmão Suchodolski said after signing the agreement in Luxembourg, “This operation is a strategic opportunity for the diversification of our energy mix in our region.... Having a partner like the EIB...will strengthen BDMG’s role in the growing market for clean and renewable energy”.

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