CDC Group, the UK’s development finance institution, has made a US$10 million investment in Veritas Finance, a Chennai-based financial services firm. Veritas has existed for almost three years and lends short-term loans as well as working capital to micro, small and medium-sized enterprise (MSMEs) in unbanked or underserved areas.
French development finance institution Proparco has signed a €90 million loan to Enel Green Power to finance a 254 megawatt photovoltaic solar power plant, the second largest in South America. The plant is located in the municipality of Tabocas do Brejo Velho in the State of Bahia, and is expected to generate more than 550 gigawatt hours a year.
The African Development Bank (AfDB) has lent US$100 million through its public sector window to MauBank Holdings Ltd to grow thousands of SMEs in Mauritius. The bank’s mission is to expand its SME business and catalyse private sector investment in sectors that include manufacturing, trade, agriculture, aquaculture, ICT and transport.
PepsiCo and the PepsiCo Foundation, in collaboration with the Inter-American Development Bank (IDB), have announced the creation of the Hydro-BID Support Center for Latin America and the Caribbean. The Hydro-BID helps IDB member countries plan for and manage changes in water availability by using climate analytics to measure the flow and volume of water in arid and stressed areas. The Hydro-BID will be piloted in Argentina, Peru, Ecuador, Brazil, and Haiti.