PROJECT

Projects

Summary of Investment Information

Project Number

37960

Company Name

BANCO ABC BRASIL SA

Date SPI Disclosed

Sep 9, 2016

Country

Brazil

Region

Latin America and the Caribbean

Projected Board Date

Oct 10, 2016

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Regional Industry - FIG LAC

Industry

Financial Markets

Previous Events

Approved : Oct 13, 2016
Signed : Dec 5, 2016
Invested : Dec 12, 2016

Sector

Commercial Banking - General

Project Description

The proposed project is to lend to ABC Brasil to support the expansion of the climate smart portfolio of the Bank and the expansion of its Small and Medium Enterprises (“SME”) portfolio; Addressing the lack of access to finance for SMEs is a strategic priorities for IFC. SME finance is a clearly identified constraint to shared prosperity and poverty reduction observed in many emerging economies. In addition, supporting climate-change mitigation investments through financial intermediaries is also a key pillar of IFC’s strategy.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation