IFC agrees $55m loan to Brazilian sugarcane group Jalles Machado

The International Finance Corporation has provided $55 million in long-term financing to Jalles Machado, a Brazilian sugarcane processor and a biomass producer. The financing includes an eight-year $35 million loan from IFC's own account, a seven-year $15 million loan mobilized from Rabobank, and a five-year $5 million loan mobilized from ABN Amro. The proceeds of the loan will help finance Jalles Machado's investment program, which includes expanding the company’s sugarcane plantations and irrigation systems, and finalizing the construction of a sugar processing plant at one of the company’s mills in Goianesia, State of Goiás.