Sicredi Green Financing (IDBI-11488-03)

  • Brazil
Where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 26, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Banco Cooperativo Sicredi S.A.
The holder of the loan, grant, or other investment.
  • Energy
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Loan Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ IDBI website

Updated in EWS Nov 5, 2019

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Project Description

The proposed transaction with Banco Cooperativo Sicredi S.A. ("Sicredi") consists of a senior unsecured financing of up to one hundred million dollars (US$100,000,000) to be denominated in Brazilian reals, to be funded by IDB. In addition, IDB Invest ("IDBI"), in its capacity as administrator of the Canadian Climate Fund will provide a loan of up to the equivalent in Brazilian Reals to ten million dollars (US$10,000,000) to be funded by IDBI, in its capacity as administrator of the Canadian Climate Fund.

The use of proceeds will be to extend credit to photovoltaic (PV) solar projects through Eligible Cooperatives (cooperativas singulares) and which form part of the Sistema de Credito Cooperativo (the "System").

People Affected By This Project




Complete the IDB Invest online training course on Environmental and Social Risk Management.

Present certificate of the person in charge of the ESMS

Before first disbursement

6. Contact InformationFor project inquiries, including environmental and social questions related to an IDB Invest transaction please contact the client (seeInvestment Summarytab), or IDB Invest using the As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing, or calling +1(202) 623-3952.

Investment Description
  • IDB Invest (IDBI)
Contact Information

Contact Client Name: Fabio Magalhaes Nunes
Title: Corporate Finance Manager
Phone number: +55 (51) 3358-8710