SP River CleanUp

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The proposed IFC investment consists of a financing package of up to US$100 million to Desenvolve SP – Agência de Fomento do Estado de São  Paulo S.A. (“Desenvolve SP” or “DSP”) to support its lending to private sector medium sized water and energy service companies (“WESCOs”) operating in the water, wastewater and solid waste sectors. The financing package will consist of an A-loan up US$75 million and would mobilize institutional investors to invest in an up to US$25 million B-Loan. The proceeds of IFC’s loan will be used as followed: (i) at least 75% will be used to finance WESCOs that enter into performance-based contracts (“PBCs”) under the Pinheiros River Clean-up program; and (ii) up to 25% will be used to finance small and medium-sized enterprises (“SMEs”) in the waste and water sector (the “Project”).