Company name
Banco Cooperativo Sicoob S.A.
Project number
14881-01
FI-2 operations are those where the risk potential is considered medium: the FI’s current or future portfolio consists of or is expected to consist of, business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures; or includes a very limited number of business activities with potential adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented.
E&S category
FI-2
Country
Brazil
Sector
Financial Institutions
Status
Proposed
Disclosed date
11/22/2024
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
12/23/2024
Approval date
N/A
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 50,000,000
Currency
BRL
Project scope and objective
The project involves a grant of financing equivalent in reais and dollars of up to US$70 million for a period of seven years, with repayment in a single payment at maturity. The financial notes will be labelled social securities and will be aligned with the International Capital Markets Association's principles on social securities. The proposed financing will help expand access to financing in Brazil by supporting the expansion of Sicoob's green portfolio, with a focus on its Micro, Small and Medium-Sized Enterprises ("MSME") strategy. Finally, the transaction supports the development of the Brazilian capital markets and the sustainable finance segment, supporting the consolidation of a growing asset classes in the country.
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Contact information
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Request informationAlternatively, you may also use the following contact information :
Client Contact
fernando.netto@sicoob.com.br
PHONE NUMBER
+55 61 3217-5360
POST OFFICE ADDRESS
SEDE I: SIG quadra 6 lote 2080, 70610-460 Brasília/DF
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(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
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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.
BANCO SICOOB GREEN FINANCING 14881-01 BR - ENVIRONMENTAL AND SOCIAL REVIEW ESRS
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