The Inter-American Development Bank (IDB) has agreed to provide a loan to Banco Pine to help finance sustainable projects, particularly biofuels and renewable energy projects.

Under the deal, IDB will provide the unsecured A/B loan of about $125m for working capital and long-term loans in these sectors, and to finance capital expenditures.

The green line partnership is likely to increase Pine’s green portfolio by $600m in the next five years.

The partnership will help achieve the Brazilian government’s efforts to refocus the country’s energy matrix on more renewable sources by 2021.