BRAZIL (News release) -- Japan International Cooperation Agency (JICA) signed a $72-million loan agreement with Klabin S.A., a Brazilian pulp and paper manufacturing company.

In this project, Klabin S.A. is carrying out an expansion of its existing facility in Paraná State in southern Brazil. By further promoting the use of biofuel it is expected to control the GHG emission. This project will contribute to the development of Brazil's sustainable forest industry and to strengthening the supply chains.

In addition, this project will be co-financed with IDB Invest and the International Finance Corporation (IFC). There will also be financing from commercial banks such as Sumitomo Mitsui Banking Corporation and Sumitomo Mitsui Trust Bank.

Klabin S.A., founded in 1899, has a strong commitment for forming a sustainable industry and protecting the environment.