The Inter-American Investment Corporation (IIC), acting on behalf of the Inter-American Development Bank (IDB) Group, has joined with Banco do Brasil S.A. to increase access to finance for small and medium sized enterprises (SMEs) involved in the agribusiness value chain in Brazil.
The financing package consists of an IDB Group A-loan of $100 million with a tenor of five years and a B-loan of $400 million with a two-year tenor from HSBC, Mizuho, National Bank of Kuwait, Banco Santander, Standard Chartered and Wells Fargo. The A-loan will support SMEs operating in underserved areas of the country, particularly in the Northeast, while the B-loan will finance other SMEs throughout the country.
This is Banco do Brasil’s first-ever A/B loan transaction with a multilateral institution. The project includes technical assistance to support Banco do Brasil’s ongoing efforts to provide micro-entrepreneurs with financial education tools. Specifically, the IIC will support Banco do Brasil in developing online financial education courses for these clients on dedicated websites.
About the Inter-American Investment Corporation (IIC)
The Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank Group (IDB Group), is a multilateral development bank committed to supporting the private sector in Latin America and the Caribbean. The IIC finances sustainable enterprises and projects to achieve financial results that maximize social and environmental development for the region. With a current portfolio of $11 billion under management and 350 clients in 21 countries, the IIC works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients.
About the Banco do Brasil S.A (BB)
BB is a listed company controlled by the Brazilian Federal Government and one of the main agents of economic and social development in Brazil. It is one of the largest financial institutions in Latin America, being a benchmark in confidence and solidity and occupies a prominent place in its business segments. Its governance and socio-environmental performance are attested by its presence in B3's Corporate Sustainability Index (ISE) and the New York Stock Exchange's Dow Jones Sustainability Index (DJSI).
About the IDB
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.
- José Luis Lobera