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On the occasion of Montreal’s Sustainable Finance Summit, FinDev Canada, Canada’s bilateral development finance institution, announces a historic climate finance commitment following the Government of Canada’s Spring Economic Update.

Canada’s bilateral development finance institution, FinDev Canada announces a USD 15 million commitment to XIC Latin America Fund I, L.P. (XLA I or the Fund), a 10-year fund focused on renewable energy and sustainable infrastructure investments across Latin America and the Caribbean.

Canada’s bilateral development finance institution, FinDev Canada, announces a USD 30 million loan to GEAR PEO, the dedicated branch of GEAR I S.A., (Generación Eléctrica Renovable I S.A), owned by Petroquímica Comodoro Rivadavia S.A. (PCR) and Acindar Industria Argentina de Aceros S.A. (ArcelorMittal group). The financing will support the development, construction, and operation of a 185.6 MW Olavarría wind project, and enable the expansion of transmission infrastructure between Olavarría and Ezeiza in Argentina.

FinDev Canada announces a USD 30 million loan to Corporación Interamericana para el Financiamiento de Infraestructura (CIFI), a leading investment platform in middle-market infrastructure and energy delivering financial solutions across Latin America and the Caribbean.

Canada’s bilateral development finance institution, FinDev Canada, announces a USD 40 million loan investment to S.A. Usina Coruripe Açúcar e Álcool (Usina Coruripe), one of Brazil’s leading sugar and bioethanol producers.