Early Warning System

Countries

Brazil

Geographic location 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

Proposed

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Nov 26, 2019

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Banco Daycoval S.A.

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Finance

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 150.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Project Cost (USD)

$ 300.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Primary Source

Original disclosure @ IDBI website

Updated in EWS Apr 2, 2020

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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The proceeds of the Project will be to increase its lending and leasing portfolio in Small and Medium-Sized Enterprises ("SMEs") by creating and implementing a holistic value proposition which will support the growth of Daycoval's SME portfolio .This proposed transaction consists of a senior unsecured financing for Banco Daycoval S.A. ("Daycoval"or the "Bank") denominated in United States dollar ("US$") of up to US$300 million comprised of (i) an IDB Invest A Loan up to US$100 million with a four-year tenor; (ii) an IDB A Loan up to US$ 50 million with a four-year tenor; and (iii) an IDB Invest B Loan expected to be up to US$150 million to be obtained from the sale of participations to commercial banks, at terms to be determined (the "Project").

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Contact Name: Paulo Saba
Title: Treasury and Markets Officer
Phone number: +55 (11) 3138-0472
Email:
paulo.saba@bancodaycoval.com.br