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BR-L1435 : Banco Coorporativo Sicredi Financing for Rural Credit and Low-Carbon Agriculture

Project Status: Closed

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.

Project Detail

Project Number
BR-L1435
Project Country
Brazil
Project Sector
FINANCIAL MARKETS
Project Subsector
FINANCIAL INCLUSION
Project Type
Loan Operation
Project Status
Closed
Operation Number
3513A/OC-BR

Financial Information

Project Number
BR-L1435
Project Status
Closed

IDB Financing

Financing type
PSL
Fund
Ordinary Capital
Reporting currency
USD - United States Dollar
Reporting date
Dec/01/2020

Roles & Responsibilities

Contract signature date
Nov/04/2016

Project Information

Total Cost
USD 70,000,000
Country counterpart financing
USD 0
Amount
USD 50,000,000

Preparation

Title
Type
Project Number
Date Published
Environmental & Social Strategies
BR-L1435
April 28, 2015
Project Abstract
BR-L1435
April 28, 2015

Approved

Title
Type
Project Number
Date Published
Agreement - Financial Closing - SCF
3513A/OC-BR;BR-L1435
August 05, 2015
Agreement - Financial Closing - SCF
3513A/OC-BR;BR-L1435
August 05, 2015