Financial Instruments for Brazil Energy Efficient Cities - FinBRAZEEC

Abstract*

The objective of the Financial Instruments for Brazil Energy Efficient Cities Project is to unlock private financing for urban energy efficiency projects in Brazil by reducing the credit risk and enhancing the technical quality of Efficient Street Lighting subprojects and Industrial Energy Efficiency subprojects. There are two components to the project, the first component being EE facility for efficient street lighting and industrial energy efficiency... Show More

Development Objective

The Project Development Objective is to unlock private financing for urban energy efficiency projects in Brazil by reducing the credit risk and enhancing the technical quality of Efficient Street Lighting subprojects and Industrial Energy Efficiency subprojects.

Key Details

Project Details

Project ID
P162455
Status
Closed
Team Leader
David Santley , Megan Meyer, Silvia Martinez Romero
Borrower 2
Caixa Economica Federal

Country
Brazil
Disclosure Date
October 16, 2017
Approval Date
(as of board presentation)
June 29, 2018
Effective Date
N/A

Total Project Cost 1
US$ 1324.00 million
Implementing Agency
Caixa Economica Federal
Region
Latin America and Caribbean
Fiscal Year 3
2018

Commitment Amount
US$ 416.00 million
Environmental Category
F
Last Update Date
November 1, 2023
Closing Date
January 28, 2020

Consultant Services required
Yes
Last Stage Reached
BANK APPROVED

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Environment and Natural Resource Management

FY17 - Climate change100%
- FY17 - Mitigation100%
FY17 - Energy100%
- FY17 - Energy Efficiency100%
- FY17 - Energy Policies & Reform100%

FY17 - Private Sector Development

FY17 - Public Private Partnerships100%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
Sub-borrower(s)	328.00
Green Climate Fund	195.00
GLOBAL INFRASTRUCTURE FACILITY	0.50
Borrowing Country's Fin. Intermediary/ies	180.00
Energy Sector Management Assistance Program	0.50
Clean Technology Fund	20.00
International Bank for Reconstruction and Development	200.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	200.00
IDA Commitment	N/A
IBRD + IDA Commitment	200.00

Lending Instrument
Grant Amount	216.00
Total Project Cost**	1324.00

Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025

No data available.

Detailed Financial Activity as of March 31, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Jan 28, 2020	IBRD-88940	Loan Cancel	200,000,000.00
Jun 29, 2018	IBRD-88940	Loan Commitment	200,000,000.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Monitoring and Evaluation	Satisfactory	2019-10-31
Overall Implementation Progress (IP)	Moderately Satisfactory	2019-10-31
Procurement	Satisfactory	2019-10-31
Counterpart Funding	Moderately Satisfactory	2019-10-31
Project Management	Moderately Satisfactory	2019-10-31
Financial Management	Satisfactory	2019-10-31
Progress towards achievement of PDO	Moderately Satisfactory	2019-10-31

COMPLETION RATINGS

No data available.

INDEPENDENT EVALUATION RATINGS

No data available.

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Net GHG emissions savings Value 0.00 0.00 960000.00
Date July 1, 2018 September 28, 2018 June 30, 2033
Comment
Projected Lifetime Energy Savings (electricity and fuel) Value 0.00 0.00 169194000000.00
Date July 1, 2018 September 28, 2018 June 30, 2033
Comment
Capital mobilized (debt) Value 0.00 0.00 580000000.00
Date July 1, 2018 September 28, 2018 July 1, 2033
Comment
Net GHG emissions savings in ESL Value 0.00 0.00 300000.00
Date June 30, 2018 September 28, 2018 July 1, 2033
Comment
Projected energy savings from ESL Value 0.00 0.00 31869000000.00
Date July 1, 2018 September 28, 2018 June 30, 2033
Comment
Commercial capital mobilized (debt) Value 0.00 0.00 400000000.00
Date July 1, 2018 September 28, 2018 June 30, 2023
Comment
Net GHG emissions saving in IEE Value 0.00 0.00 660000.00
Date July 1, 2018 September 28, 2018 June 30, 2033
Comment
Projected lifetime energy savings for IEE Value 0.00 0.00 137325000000.00
Date July 1, 2018 September 28, 2018 June 30, 2033
Comment
CEF funds mobilized (debt) Value 0.00 0.00 180000000.00
Date July 1, 2018 September 28, 2018 June 30, 2023
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Guarantees subscribed Value 0.00 0.00 200000000.00
Date July 1, 2018 September 28, 2018 June 30, 2033
Comment
Number of street lighting PPPs advised Value 0.00 0.00 6.00
Date July 1, 2018 September 28, 2018 June 30, 2033
Comment
Number of Technical Studies completed Value 0.00 0.00 5.00
Date July 1, 2018 September 28, 2018 June 30, 2033
Comment
Number of CEF employees trained Value 0.00 0.00 20.00
Date July 1, 2018 September 28, 2018 June 30, 2033
Comment
Number of female CEF employees trained Value 0.00 0.00 50.00
Date July 1, 2018 September 28, 2018 June 30, 2033
Comment
Grievances registered related to delivery of project benefits that are actually addressed Value 0.00 0.00 95.00
Date July 1, 2018 September 28, 2018 June 30, 2033
Comment
Number of gender awareness campaigns conducted Value 0.00 0.00 3.00
Date July 1, 2018 September 28, 2018 June 30, 2033
Comment
Perception of insecurity in public spaces among women in pilot areas Value 70.00 0.00 77.00
Date July 1, 2018 September 28, 2018 June 30, 2033
Comment

Net GHG emissions savings	Value	0.00	0.00	960000.00
	Date	July 1, 2018	September 28, 2018	June 30, 2033
	Comment

Capital mobilized (debt)	Value	0.00	0.00	580000000.00
	Date	July 1, 2018	September 28, 2018	July 1, 2033
	Comment

Net GHG emissions savings in ESL	Value	0.00	0.00	300000.00
	Date	June 30, 2018	September 28, 2018	July 1, 2033
	Comment

Projected energy savings from ESL	Value	0.00	0.00	31869000000.00
	Date	July 1, 2018	September 28, 2018	June 30, 2033
	Comment

Commercial capital mobilized (debt)	Value	0.00	0.00	400000000.00
	Date	July 1, 2018	September 28, 2018	June 30, 2023
	Comment

Net GHG emissions saving in IEE	Value	0.00	0.00	660000.00
	Date	July 1, 2018	September 28, 2018	June 30, 2033
	Comment

CEF funds mobilized (debt)	Value	0.00	0.00	180000000.00
	Date	July 1, 2018	September 28, 2018	June 30, 2023
	Comment

Guarantees subscribed	Value	0.00	0.00	200000000.00
	Date	July 1, 2018	September 28, 2018	June 30, 2033
	Comment

Number of street lighting PPPs advised	Value	0.00	0.00	6.00
	Date	July 1, 2018	September 28, 2018	June 30, 2033
	Comment

Number of Technical Studies completed	Value	0.00	0.00	5.00
	Date	July 1, 2018	September 28, 2018	June 30, 2033
	Comment

Number of CEF employees trained	Value	0.00	0.00	20.00
	Date	July 1, 2018	September 28, 2018	June 30, 2033
	Comment

Number of female CEF employees trained	Value	0.00	0.00	50.00
	Date	July 1, 2018	September 28, 2018	June 30, 2033
	Comment

Perception of insecurity in public spaces among women in pilot areas	Value	70.00	0.00	77.00
	Date	July 1, 2018	September 28, 2018	June 30, 2033
	Comment

Financial Instruments for Brazil Energy Efficient Cities - FinBRAZEEC

Abstract*

Development Objective

Key Details

Project Details

Sectors

Themes

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Project Map

Finances

Financing Plan (US$ Millions)

Total Project Financing (US$ Millions)

Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025

Detailed Financial Activity as of March 31, 2025

Ratings

IMPLEMENTATION RATINGS

COMPLETION RATINGS

INDEPENDENT EVALUATION RATINGS

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INTERMEDIATE RESULTS INDICATORS