Company name
Banco Pine S.A.
Project number
BR3781A-01
N/A
E&S category
N/A
Country
Brazil
Sector
Financial Institutions
Status
In implementation
Disclosed date
09/10/2010
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
10/19/2010
Approval date
11/09/2010
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 100,000,000
Currency
N/A
Project scope and objective
Banco Pine S.A. was established in 1997 and it has specialized in providing financing to medium-size Brazilian companies with secured structured operations. It also provides financial and strategic consulting services, treasury and investment products, and BNDES onlending lines.
Banco Pine’s business model is based on market niches with growth and profitability potential, generation of good quality assets, and prudential credit, supervision, and liquidity policies. Its strategy is based on knowing its clients’ needs and providing them with a full range of lending products, both in local and foreign currency, in a responsive and effective manner.
The purpose of this IIC project is to provide financing to Banco Pine to support eligible projects via loans to eligible enterprises. Eligible enterprises shall be those whose annual sales do not exceed US$50 million and whose consolidated annual sales per economic group do not exceed US$150 million, among other conditions. However, Banco Pine shall channel at least an amount equivalent to the A Loan to enterprises with annual sales of up to US$20 million or up to US$50 million per economic group.
Eligible loans shall be loans to eligible enterprises for an amount not to exceed US$4 million per enterprise and US$5 million per economic group, with a term of at least six months. In addition, at least 20% of the funds shall be placed in Brazil’s northwest region. For the A Loan, the individual loan amount would be US$1 million. For the B Loan, loan amounts shall be defined once Banco Pine agrees to the market terms and rates.
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
ENVIRONMENTAL AND SOCIAL REVIEW
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