PROJECT

Projects

Summary of Investment Information

Project Number

47914

Company Name

BANCO DE DESENVOLVIMENTO DE MINAS GERAIS

Date SPI Disclosed

Oct 15, 2024

Country

Brazil

Region

Latin America and the Caribbean

Projected Board Date

Nov 15, 2024

Environmental Category

FI-2 - Limited

Status

Pending Signing

Last Updated Date

Feb 26, 2025

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : Feb 24, 2025

Sector

Commercial Banking - General

Project Description

 The proposed project consists of an A Loan of up to US 50 million to the Banco de Desenvolvimento de Minas Gerais S.A. The facility consists of an up to 5-year senior unsecured loan, including a 4-year grace period (only for repayments of principal). 50% of the loan will be used for financing the Bank’s SMEs portfolio (25% to women SMEs and 25% to SMEs located in Minas Gerais’ municipalities with an HDI of less than 0.754 (Brazil’s average)), The other 50% will be dedicated to supporting BDMG’s Health portfolio.                                                   

Associated Advisory Engagement

 IFC is in discussion with BDMG for a potential Advisory program to help the Bank grow their Health portfolio.                                                  

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation