The China Development Bank has completed the issuance of a US$600 million credit to Banco Santander (Brazil) to support important projects in the areas of environment, society and governance (ESG) in the country.

This is a specific measure launched by the Chinese financial institution to materialize the consensus reached by the heads of state of China and Brazil. It is the first credit issued under the Special Loan Porgram for China-Latin America Cooperation and Development, which totals US$1 billion.

The credit will be directed to the application of new concepts and methods in the economic, social and environmental sectors, supporting Brazilian companies in areas such as wind power, solar energy, hydropower, landfills, and biogas capture. The action should foster cooperation between the two countries in sustainable development, bringing more “green energy” from China to Brazil and creating new development and employment opportunities for the Brazilian people.

(Source: Portuguese CRI)