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Company name

BANCO COOPERATIVO SICREDI S.A.

Project number

14658-01

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

In implementation

Disclosed date

08/28/2023

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

Projected board date
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11/21/2023

Approval date

11/21/2023

Signed date

12/13/2023

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

USD $ 100,265,000

Financing amount

USD $ 30,000,000

Currency

USD

Project scope and objective

The transaction consists of a senior unsecured A/B and co-loan for up to US$100 million to BanSicredi, to be structured as follows: (i) an A Loan of up to US$25 million to be financed by IDB Invest; (ii) an A Loan of up to US$60 million to be financed by DEG and Proparco; and (iii) B Loans of up to US$15 million to be financed by institutional investors. The term of the A loan is seven years, with a grace period of one year and semi-annual installments, while the term of the B loans is two years, with interest with bullet repayment.

The transaction has as a target to provide the Borrower with long-term senior funds for the financing of sub-loans to its women-led SMEs portfolio.

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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.

SICREDI – WOMEN-LED SMES 14658-01 – BRAZIL 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

Pedro_ramos@sicredi.com.br

PHONE NUMBER

+55 51 99831 7440

POST OFFICE ADDRESS

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

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