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Company name

CRESOL Sicoper

Project number

14331-01

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
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FI-2

Country

Brazil

Sector

Financial Institutions

Status

Proposed

Disclosed date

07/08/2024

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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09/13/2024

Approval date

09/06/2024

Signed date

09/09/2024

Sponsoring entity

N/A

Investment Operations Department Contact

Portfolio Management Division

Investment type

Syndicated amount

USD $ 10,000,000

Financing amount

USD $ 10,000,000

Currency

BRL, USD

Project scope and objective

The proposed transaction consists of an unsecured loan (the “Loan”) to Cresol Sicoper of up to US$20 million funded as follows: (i) an A loan of up US$10 million to be funded by IDB Invest; and (ii) a co-loan of up to US$10 million to be funded by DEG. The Loan has a four-year tenor, with two years of grace. The Project involves granting Cresol Sicoper funds to grow its lending portfolio for Micro-, Small- and Medium-Sized Enterprises (“MSMEs”) and low-income individuals. Additionally, advisory services are being designed to help Sistema Cresol (the Company’s network of cooperatives) develop a sustainability strategy.

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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.

CRESOL SICOPER - SUSTAINABLE FINANCE PARTNERSHIP - 14331-01 – BR - ENVIRONMENTAL AND SOCIAL REVIEW ESRS

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

jaap@cresol.com.br

PHONE NUMBER

+55 54 3210-2300

POST OFFICE ADDRESS

Passo Fundo - State of Rio Grande do Sul, Brazil

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

For inquiries, comments and information requests about the project

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Learn more about how we provide private-sector solutions in the region .