Grupo Simpar, one of the largest logistics and transport operators in Brazil, received financing for 250 million dollars from IDB Invest. Of the total financing, IDB Invest provides 120 million dollars (including 40 million from funds managed by the IDB Group), distributed equally among four subsidiaries of the Simpar Group: Movida, JSL, Vamos, and CS Brasil. In addition, exclusively for company Movida, IDB Invest has mobilized 130 million dollars through B loans from four international financial entities: Bank of China Limited Panama Branch; MUFG Bank, Ltd; Banco Santander S.A.; and Banco de Occidente (Panama), S.A.

The purpose of the loan is to support Grupo Simpar’s investment program and promote decarbonization in the transportation industry in Brazil. The operation will support the four largest Grupo Simpar entities in investments and projects to promote and sustain their long-term expansion and decarbonization strategy by financing electric, hybrid, flex-fuel and biofuel vehicles, in addition to investments in programs and technology to increase efficiency and reduce CO2 emissions from the Group’s operations.

The deal for Movida, one of the Group’s companies, includes a 100 million dollars green loan tranche that will be used to purchase electric vehicles, with a commitment of an established minimum quantity per year through 2024.

IDB Invest is providing advisory services to support Movida in preparing the green loan framework, with Vigeo Eiris providing a second opinion. Moreover, IDB Invest supported Grupo Simpar in the design of its long-term decarbonization strategy and provided financial resources to develop action plans to bring operating units up to international fire and safety standards.