São Paulo, Brazil, March 12, 2012—
IFC, a member of the World Bank Group, is supporting Tribanco’s efforts to enhance access to financial services for smaller Brazilian enterprises interested in reducing their energy use.
With the support from the Spanish Fund for Latin America and the Caribbean, IFC is helping Tribanco train its staff in energy-efficiency financing and identify opportunities to finance projects in this area. This effort will benefit small retail stores that are a part of a network of more than 900 stores throughout the country, giving them access to credit lines to implement energy efficiency projects.
As small shops become more sophisticated, they are also growing more energy-intensive. Increased competition in the retail industry, along with recent energy crises in Brazil, has fueled demand for greater energy efficiency and lower operational costs.
“We are excited to partner with IFC and to have the opportunity to include energy-efficiency issues in our agenda,” said João Rabello, Tribanco’s Managing Director. “This shows our continued commitment to the sustainable development of the retail sector.”
An IFC-commissioned study to identify opportunities for sustainable energy finance in Brazil found that energy-efficiency measures could generate more than $320 million in cost savings per year, requiring some $740 million in energy-efficiency financing. However, some financial institutions have faced difficulties in working in this area.
Loy Pires, IFC Country Manager in Brazil, said: “Energy-efficiency programs are a proven method to decrease operational costs for enterprises, contributing to productivity and overall competitiveness while also reducing the carbon footprint of a company.”
The project with Tribanco is in line with IFC's sustainability strategy in Brazil, which calls for IFC to partner with financial institutions to promote access to long-term financing for projects that result in reduced greenhouse-gas emissions and other environmental benefits.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. We create opportunity for people to escape poverty and improve their lives. We do so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development. In a time of global economic uncertainty, our new investments climbed to a record $18 billion in fiscal 2010. For more information, visit
www.ifc.org
.
About the Spanish Fund for Latin America and the Caribbean (SFLAC)
SFLAC is a trust fund established by the Spanish Ministry of Economy and Competitiveness to provide resources to enhance the impact of the World Bank Group´s development activities, both analytical and operational in the region.
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