AIIB Partners with Brazil's First Co-operative Bank to Boost Renewable Energy Financing
The Board of Directors of the Asian Infrastructure Investment Bank (AIIB) has approved a USD100 million loan to Banco Cooperativo Sicredi S.A. (Banco Sicredi), Brazil's first cooperative bank, to support the expansion of small-scale solar energy solutions for households and small and medium-sized enterprises (SMEs) across the country.
This initiative is expected to help make electricity more affordable for small-scale consumers across Brazil, one of AIIB's founding members, while advancing Brazil's efforts to decarbonize its energy sector. It will also help drive the adoption of solar energy among residential and SME clients, particularly in underserved regions.
The investment marks AIIB's first on-lending facility to a co-operative bank, reflecting a strategic opportunity to expand the Bank's engagement with diverse financial institutions. AIIB also aims to mobilize an additional USD100 million from parallel and commercial B-lenders, catalyzing private capital through AIIB's anchor participation.
Banco Sicredi, the banking arm of Sistema de Crédito Cooperativo – Sicredi, will also provide an equivalent amount in counterpart funding.
“This initiative highlights AIIB's commitment to work with trusted financial institutions to expand access to sustainable infrastructure solutions,” said Gregory Liu, Director General, Financial Institutions and Funds Clients, Global, AIIB. “By partnering with Banco Sicredi, we are enabling broader access to clean energy finance for communities and small businesses across Brazil. This commitment reflects our focus on inclusive, sustainable progress and our confidence in local cooperative banking models to drive impact at scale.”
“We are proud to celebrate this important milestone with AIIB as part of our ongoing commitment to sustainable development,” said Fabricio Dossena, Head of Financial Institutions, Banco Sicredi. “This partnership reflects a shared vision for inclusive and sustainable growth, and Sicredi hopes it will be the first of many successful collaborations with AIIB in the years to come.”
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