BNDES supports sanitation P3

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Brazil’s development bank BNDES has invested in a Rio de Janeiro sanitation P3.

The bank has purchased $370m of bonds from concessionaire Iguá Saneamento to support Block 2 of its Rio sanitation concession.

According to BNDES, its involvement was sparked by a liquidity restriction in the market and the bank has stepped in to help in “guaranteeing the viability of the project and the realization of investments for the population”.

Luciana Costa, BNDES’s director of infrastructure, energy transition and climate change, said the involvement shows the bank’s “commitment to making projects that have an impact on the population possible and was fundamental to make it possible to issue funds in a time of crisis in the country’s marketplace”.