IFC helps develop infrastructure projects that can meaningfully improve people's lives, especially in emerging markets where the speed and scale of urbanization presents critical needs in power, utilities, and transportation.
We partner with governments, developers, and investors to support such priority infrastructure projects with financial as well as technical support. In Brazil, IFC’s $288 million, 15-year loan and a $534 million local-currency parallel loan to UTE GNA I Geração de Energia S.A. (GNA I) supports the development, construction, and operation of an integrated 1.3-gigawatt liquefied-natural-gas-to-power facility.
IFC’s long-term loan to GNA I is our largest single local-currency commitment to date. The facility, expected to become operational in 2021, will serve as a backup to the country’s power system, allowing for further use of renewable energy sources. It is expected to contribute to an annual reduction in Brazil’s emissions by 139,000 tons of carbon dioxide equivalent based on the anticipated use of the plant.
Transportation infrastructure for electric mobility is the focus of IFC’s $8 million investment in Lithium, India’s first electric fleet operator company. The project will provide job opportunities for up to 8,000 drivers over five years. This is IFC’s inaugural investment in electric mobility. The project supports electrification of transportation, which will help avoid annual greenhouse emissions of more than 25,000 metric tons per year.
In Serbia, IFC provided a €182 million financing package — including €72 million for our own account — to help expand Belgrade Nikola Tesla Airport. The project, the first large-scale transport public-private partnership in Serbia, is expected to more than double the airport’s capacity, boost the country’s tourism and transport industry, and encourage economic growth.
To support renewable energy projects in Vietnam, IFC invested $75 million in an infrastructure-focused listed green bond that was issued by Philippine power company AC Energy, which aims to develop up to 5GW of renewables across East Asia and the Pacific by 2025. IFC’s subscription is dedicated to selected AC Energy’s wind and solar projects in Vietnam totaling up to 360MW. Our investment anchored the $300 million green bond and helped mobilize international and institutional financing for deployment into AC Energy’s regional projects.