White & Case Advises CAF in US$220 Million Loan to BDMG to Drive Powershoring

Global law firm White & Case LLP has advised CAF- the development bank of Latin America and the Caribbean, in negotiating and closing an A/B Loan facility for Banco de Desenvolvimento de Minas Gerais' (BDMG), totaling US$220 million. This landmark facility involved the participation of major international institutions such as Banco Continental, Banco do Brasil, Cargill, Eco.business Fund, Global Climate Partnership Fund, and responsAbility. Loan proceeds will be used to support strategic projects in Brazil that promote powershoring, sustainability and energy efficiency, as well as inclusive and sustainable growth.

The loan represents a significant milestone in the relationship between CAF, a multilateral institution focused on sustainable development and regional integration across 22 country members, and BDMG, the state development bank of the second most populous State in Brazil (the State of Minas Gerais). CAF and BDMG have maintained a decade-long partnership, and this transaction strengthens their collaboration, reaffirming both institutions' commitment to sustainable development in the region.

The new facility highlights CAF's role in mobilizing blended resources, leveraging US$100 million of its own funds to attract a further US$120 million. This approach is part of CAF's broader strategy to mobilize private capital towards projects contributing to the achievement of the Sustainable Development Goals (SDGs) and fostering a fair energy transition.

The White & Case team was led by agency finance partner Suzanne Perry (Washington, DC) and included associates Eduarda Lague (Washington, DC) and Marissa Maxim (Houston).

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