Summary of Proposed Investment
Project Number
28449
Company Name
CHINA CONSTRUCTION BANK (BRASIL) BANCO MULTIPLO S.A.
Date SPI Disclosed
Oct 9, 2009
Country
Brazil
Industry
Financial Markets
Projected Board Date
Nov 10, 2009
Status
Completed
Sector
Commercial Banking - SME Finance
Date Revised SPI Disclosed
Oct 14, 2009
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Jan 15, 2010
Signed : May 18, 2010
Project Description
The project is aligned with Central Bank’s initiatives to facilitate long-term funding solutions to mid-sized banks, it aims to help reverse the recent de-leveraging effect brought on by the international financial crisis. It capitalizes on the size and depth of Brazil’s local capital markets, and complements other efforts of the Brazilian Government. In this context, BicBanco (the “Bank”) wants to continue diversifying its access to stable funding sources through market-based transactions. For this purpose, the Bank will continue to develop securitization structures through funding vehicles, such as FIDCs, the Brazilian-equivalent of a bankruptcy-remote trust in OECD environments. Accordingly, through this Project, IFC would support BicBanco in its efforts to launch FIDCs that would provide local currency funding to Small and Medium Enterprises (“SMEs”).
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Marcos Kairuz
Superintendente
Av. Paulista, 1048 15th floor
01310-100
São Paulo – SP
Brazil
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