Equatorial Maranhão Distribuidora de Energia to expand energy access in Brazil – Can$42.5-million loan (US$30 million)

FinDev Canada is providing a US$50-million financing package with Sumitomo Mitsui Banking Corporation (SMBC) to Equatorial Maranhão Distribuidora de Energia S.A., an electricity distribution company serving nearly three million customers in Maranhão, Brazil. This transaction includes an initial US$30-million loan from FinDev Canada and US$20-million loan from SMBC, one of the largest global banks in sustainable infrastructure based in Japan. This transaction represents our first-ever co-financing with SMBC in the infrastructure sector.

The project mobilizes capital from the private sector and deepens Canadian economic partnerships with Brazil. The loan will improve electricity distribution by expanding and enhancing Equatorial Maranhão’s grid distribution network, including in rural and low-income areas. Through this commitment, Equatorial Maranhão is expected to increase the number of new connections, reduce network losses and lower the average frequency and duration of electricity service interruptions.

Acelen Renewable to support global climate action and economic growth in Brazil – Can$82.3-million loan (US$58 million)

FinDev is committing a US$58-million loan to Acelen Renewable based in Bahia, Brazil. The financing will support the construction and operation of a biorefinery that uses hydroprocessed esters and fatty acids technology to create significant production capacity for sustainable aviation fuel (SAF) and renewable diesel. The project will have a feedstock processing capacity of 20,000 barrels per day (bpd) and will produce 18,000 bpd of SAF, primarily for export to Europe and North America.

FinDev Canada’s investment is part of a US$854-million construction facility that includes a development finance institution and commercial lenders, such as International Finance Corporation, Hongkong and Shanghai Banking Corporation, IDB Invest, KfW Development Bank, and Banco Bradesco.

Wildfires Mutual Assistance Operating Plan

The signature of the operating plan between the Canadian Interagency Forest Fire Centre and officials from Brazil’s Ministry of the Environment will facilitate the entry into Canada of Brazilian firefighters to assist with the upcoming fire season, as well as allow the exchange of information and technical assistance.

Meeting of the Joint Committee for Cooperation on Science, Technology and Innovation

The Joint Committee for Cooperation on Science, Technology and Innovation works to advance discussions on scientific cooperation and innovation engagement in relation to government priorities such as artificial intelligence cooperation. The next meeting, the first since 2021, will take place in Brasília in September.

Customs Mutual Assistance Agreement (CMAA)

The CMAA will strengthen cooperation between the Canada Border Services Agency and the Special Secretariat of the Federal Revenue of Brazil, Ministry of Economy, enhancing trade security and supporting efforts to combat customs offences, including fraud and smuggling.

Canada-Brazil Memorandum of Understanding on Health Sector Cooperation

This will help deepen technical and scientific cooperation between Canada and Brazil, fostering the exchange of information, experiences, and best practices in broad areas of cooperation in health surveillance immunization and environmental health.