The Asian Infrastructure Investment Bank (AIIB) has approved a US$100m loan to Brazilian co-op bank Banco Sicredi to support the expansion of small-scale solar 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 decarbonise its energy sector. It will also help drive the adoption of solar energy among residential and SME clients, particularly in underserved regions.
AIIB says this marks its first on-lending facility to a co-operative bank, “reflecting a strategic opportunity to expand the bank’s engagement with diverse financial institutions.”
It adds that is also plans to mobilise an additional US$100m from parallel and commercial B-lenders, catalysing 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.
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“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, at 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.”
Fabricio Dossena, head of financial institutions at Banco Sicredi, added: “We are proud to celebrate this important milestone with AIIB as part of our ongoing commitment to sustainable development.
“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.”
AIIB is a multilateral development bank dedicated to financing “infrastructure for tomorrow, with sustainability at its core“. It began operations in 2016 and now has 110 approved members worldwide.
Banco Sicredi serves as the banking arm of Sistema de Crédito Cooperativo – Sicredi and is the first co-op bank in Brazil. It plays a key role in providing banking services, liquidity management, and financial product development to its member co-operatives, with a stated emphasis on local development, sustainability, and financial inclusion. It serves more than 8 million members and is present in all regions of Brazil through a network of over 100 credit co-operatives.
