The purpose of the proposed project with Banco Cooperativo Sicredi S.A. (¿Banco Sicredi¿) is to increase the available financing for Brazilian medium and small size farmers, prioritizing investments in low carbon agriculture technologies (similar to the defined under the ABC Plan), in order to increase agricultural productivity and food production. The IDB¿s intervention will combine: an A-Loan of up to US$35 million, 4 year amortizing loan to be complemented with an up to US$15 million co-loan from the China Co-Financing Fund for LAC. The project team is also collaborating with the IDB¿s Climate Change and Sustainability group (CCS) to bring technical assistance for Sicredi to advance rural development in Brazil through the promotion of low carbon agricultural practices.
|Subsector||FINANCIAL MARKETS-FINANCIAL INCLUSION|
|Project Type||Loan Operation|
|Approval Date||AUG 5, 2015|
|Contract Signature Date||NOV 4, 2016|
|Completion Date||DEC 10, 2016|
|IDB Financing *||50.00|
|Total Cost H||USD 70,000,000|
|Financing Type||Private Sector Loan|
|Reporting currency||USD - United States Dollar|
|Reporting Date||NOV 30, 2017|
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