IADB and BNDES launch $1.5bn infrastructure credit fund

The Inter-American Development Bank (IADB), through its private sector institution IDB Invest, has joined forces with Brazilian development bank BNDES to create an infrastructure credit fund for up to $1.5 billion. The fund, initially called B2 Infra, includes about 30% of its resources from BNDES, 10% from IDB Invest and the remainder will be raised together with the private sector.

The focus of B2 Infra is to provide loans to projects in transport, energy, water and sanitation, and social infrastructure, such as health and education.