São Paulo, Brazil, March 12, 2012—IFC,
a member of the World Bank Group, is supporting Tribanco’s efforts to
enhance access to financial services for smaller Brazilian enterprises
interested in reducing their energy use.
With the support from the Spanish Fund for Latin America and the Caribbean,
IFC is helping Tribanco train its staff in energy-efficiency financing
and identify opportunities to finance projects in this area. This effort
will benefit small retail stores that are a part of a network of more than
900 stores throughout the country, giving them access to credit lines to
implement energy efficiency projects.
As small shops become more sophisticated, they are also growing more energy-intensive.
Increased competition in the retail industry, along with recent energy
crises in Brazil, has fueled demand for greater energy efficiency and lower
“We are excited to partner with IFC and to have the opportunity to include
energy-efficiency issues in our agenda,” said João Rabello, Tribanco’s
Managing Director. “This shows our continued commitment to the sustainable
development of the retail sector.”
An IFC-commissioned study to identify opportunities for sustainable energy
finance in Brazil found that energy-efficiency measures could generate
more than $320 million in cost savings per year, requiring some $740 million
in energy-efficiency financing. However, some financial institutions have
faced difficulties in working in this area.
Loy Pires, IFC Country Manager in Brazil, said: “Energy-efficiency programs
are a proven method to decrease operational costs for enterprises, contributing
to productivity and overall competitiveness while also reducing the carbon
footprint of a company.”
The project with Tribanco is in line with IFC's sustainability strategy
in Brazil, which calls for IFC to partner with financial institutions to
promote access to long-term financing for projects that result in reduced
greenhouse-gas emissions and other environmental benefits.
IFC, a member of the World Bank Group, is the largest global development
institution focused on the private sector in developing countries. We create
opportunity for people to escape poverty and improve their lives. We do
so by providing financing to help businesses employ more people and supply
essential services, by mobilizing capital from others, and by delivering
advisory services to ensure sustainable development. In a time of global
economic uncertainty, our new investments climbed to a record $18 billion
in fiscal 2010. For more information, visit www.ifc.org.
About the Spanish Fund for Latin America and the Caribbean (SFLAC)
SFLAC is a trust fund established by the Spanish Ministry of Economy and
Competitiveness to provide resources to enhance the impact of the World
Bank Group´s development activities, both analytical and operational in
For more information about Tribanco, visit www.tribanco.com.br.