SAO PAULO, Aug 28 (Reuters) - Brazilian lender BTG

Pactual and the World Bank's private sector arm

International Finance Corporation announced on Thursday up to $1

billion in joint investments on sustainability and development

initiatives.

WHY IT'S IMPORTANT

Private sector engagement in sustainability has gained

momentum globally, with private institutions promoting climate

finance and development-focused investments.

Brazil is home to much of the Amazon rainforest and a

critical region for biodiversity and climate solutions. BTG

Pactual is Latin America's largest investment bank.

BY THE NUMBERS

The partnership is set to mobilize up to $1 billion by the

end of 2028 through co-financing, equity investments and private

equity funds.

KEY QUOTES

"The private sector can and must be a key player in

advancing the climate agenda and driving transformative

initiatives that improve lives and foster economic growth,"

said Alfonso Garcia Mora, IFC's regional vice-president for

Europe, Latin America and the Caribbean.

BTG Pactual CEO Roberto Sallouti said "the allocation of

these resources will be done carefully, adhering to technical

and financial criteria."

ADDITIONAL CONTEXT

The investments are aimed at boosting initiatives to tackle

climate change and promote sustainable economic growth in Brazil

and Latin America, IFC and BTG said, targeting social and

environmental development, conservation, infrastructure, and the

so-called bioeconomy.