The Asian Infrastructure Investment Bank (AIIB) is lending $100 million to Banco Sicredi, Brazil’s first cooperative bank, to help more people and small businesses get solar panels, according to a press release. This money will go to households and small companies, especially in parts of Brazil that don’t have many clean energy options yet. Banco Sicredi is matching the investment, and AIIB wants to bring in another $100 million from other banks and investors.
This is AIIB’s first time working directly with a cooperative bank like Sicredi. The goal is to make green energy loans available to more people by using local banks that know the communities. Projects like this can help bring down electricity bills and help Brazil shift away from fossil fuels.
Gregory Liu from AIIB put it simply: “By partnering with Banco Sicredi, we are enabling broader access to clean energy finance for communities and small businesses across Brazil.” He said the bank wants to help more people use affordable, clean power.
Banco Sicredi’s Fabricio Dossena called the partnership a big step, saying it shows both groups want to build a greener future together. He hopes they will do even more together down the road.
For Brazil, this means more families and small businesses can use the sun to power their lives. It also shows how global and local groups can join forces to help communities move to clean energy.
