IDB and Banco do Nordeste partner to boost renewable energy integration in Brazil

Banco do Nordeste do Brasil (BNB), a regional development bank with 90% of its capital under control of the Federal Government of Brazil, will receive about 67 million dollars in financing to be provided equally by the Inter-American Development Bank (IDB) and the Climate Investment Funds’ Renewable Energy Integration Program (CIF-REI), with the goal of expanding the integration of renewable energy in Brazil’s Northeast region.

The operation will enable BNB to increase financing for projects focused on integrating renewable sources into the national electricity grid. The program will also finance innovative technologies such as batteries, green hydrogen, smart grids, and automation, which are key to improving the efficiency and stability of Brazil’s energy matrix.

This initiative is aligned with Brazil’s strategic objectives for sustainable energy development. The main beneficiaries include energy companies, which will have access to greater financing, and the general population, which will benefit from a cleaner, more reliable, and more resilient energy supply.

The program was developed based on the CIF-REI Investment Plan, led by the Brazilian Ministries of Finance, Mines and Energy, and Science, Technology, and Innovation, with technical support from IDB and the World Bank. It also complements the Northeast Productive Development Program (PRODEPRO), approved by IDB in 2023, and reinforces BNB’s role as a catalyst for sustainable investment in the region.