BDMG - Sustainable Bond (IDBI-12976-01)

Countries
  • Brazil
Where the impacts of the investment may be experienced.
Specific Location
State of Minas Gerais
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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 7, 2020
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
Banco de Desenvolvimiento de Minas Gerais S.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)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 50.00 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)
$ 50.00 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 16, 2020

Disclosed by Bank Nov 6, 2020


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Project Description

This project will help BDMG structure a sustainable financing to increase its lending portfolio in companies that contribute to at least one SDG goal in the Minas Gerais State region. BDMG has done a technical cooperation with IDB and has identified 11 project categories eligible to receive BDMG's Sustainability Bond's resources. The transaction will consist in a sustainable bond for an amount of up to US$50 million with a five-year term. Framework and the second opinion for this bond have already been issued and approved with the support of IDB.

People Affected By This Project

Activity

Description

Compliance Indicator

Timeline

Application of sub-project dollar cap

BDMG will limit the size of projects financed to a total project cost size no greater than US$5million

Annual reporting of sub-projects greater than $500K

Life of the contract

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 emaildivulgacionpublica@iadb.org. As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing tomecanismo@iadb.orgorMICI@iadb.org, or calling +1(202) 623-3952.

Investment Description
  • IDB Invest (IDBI)
Contact Information

Contact Name: Leonardo Leao
Title: Superintendent
Telephone number: +55 31 3219 8551
Email:
leonardoleao@bdmg.mg.gov.br

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://www.iadb.org/en/access-information/information-request

ACCOUNTABILITY MECHANISM OF IDB / IDB INVEST

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 (IDB Invest)-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 IDB Invest 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).