Brazil’s development bank and government funding agency are making BRL 6bn ($1.1bn) available to help finance local production of sustainable bunker and aviation fuels.
The National Bank for Economic and Social Development (BNDES) and the Study and Project Financing Agency (Finep) are each chipping in BRL 3bn to the initiative.
The credit lines, which feature subsided interest rates, can be used for expenses including research, engineering projects and industrial plants, along with purchases of machinery and equipment, Brazil’s ministry of development, industry, trade and services said in a statement.
