The World Bank’s private arm, the International Finance Corporation (IFC), is expected to keep pace with green investments in Brazil regardless of the outcome of October’s presidential election, an IFC official said on Tuesday. “While the government does not actively support environmental policies, we support plans to invest in private companies and emphasize the importance of making them more resilient to the impacts of climate change.
In addition to environmental concerns, IFC, part of the World Bank Group, is also discussing investments in more basic education projects that leverage technology and health, especially for start-ups. In March, the group announced that Santander would make his $150 million loan to Brazil to finance small businesses in the country’s healthcare sector.
Spicer’s comments underline the investment group’s willingness to maintain sustainability as a key guideline for investing in the country. About 60% of the approximately $2.8 billion the group invests in the region each year suffers from this condition. In addition to continuing to invest in renewable energy projects, IFC sees opportunities to get involved in domestic sanitation projects after the sector’s new framework is approved, the executive said.
“Venture capital investments are part of our business,” Spicer said, adding that the impact of the pandemic in Latin America has opened many new opportunities to support companies with high growth potential in such areas was opened.
- IFC will continue making investments in Brazil with a focus on the environment
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