Credit Project Fund (IDBI-12640-01)

Countries
  • 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
Proposed
Bank Risk Rating
FI
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
Dec 10, 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.
Borrower
n/a
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Fund
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IDBI website

Updated in EWS Nov 13, 2019

Disclosed by Bank Aug 11, 2019


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Project Description

According to the bank "The Inter-American Investment Corporation (IDB Invest) is considering an investment of up to US$150 million (in BRL equivalent) through the subscription of quotas of an investment fund in Brazil (the "Fund"). IDB Invest's participation will allow the fund to reach the necessary scale to effectively execute its investment strategy and reach its minimum size.

The Fund will invest in debt instruments to support infrastructure and energy projects and promote capital market solutions. The fund manager of the Fund will be a local investment management company with extensive experience in the local market.

The Fund will support the country's effort to speed up the development of infrastructure and energy projects; mobilizing resources from institutional investors to long-term local currency financing for infrastructure projects and promoting the development of the local capital markets through the issuance of infrastructure debentures."

Investment Description
  • IDB Invest (IDBI)
Contact Information

ACCOUNTABILITY MECHANISM OF IADB

The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).