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Grupo Simpar is one of the largest logistics and transport operators in the country, and the operation will support the groups four largest entities (Movida, JSL, Vamos and CS) to promote and sustain their long-term expansion and decarbonization strategy.
IDB Invest, a member of the Inter-American Development Bank (IDB) Group, granted financing of 250 million US dollars to Grupo Simpar to promote decarbonization in the transportation industry in Brazil.
Grupo Simpar is one of the largest logistics and transport operators in the country, and the operation will support the groups four largest entities (Movida, JSL, Vamos and CS) to promote and sustain their long-term expansion and decarbonization strategy through the financing of electric, hybrid, flex-fuel and biofuel vehicles.
This agreement will also contribute to the growth of the sectors supply chain, as Grupo Simpar is one of the largest buyers of heavy and light vehicles in Brazil. The use of revenue from the operation will help streamline the transportation supply chain, which is also in transition to lower carbon emissions from industry suppliers. By 2025, Grupo Simpar is expected to buy more than 22,000 national companies. Grupo Simpars investments and growth will also help create jobs in this sector.
The deal for Movida includes a $100 million green loan tranche in which the company has committed to purchase minimum quantities of electric vehicles per year through 2024. This deal is the first green loan offered by Movida, and structured and mobilized by IDB Invest. |
