Sofisa AB Loan for SME Financing (IDBI-13303-01)

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
May 10, 2021
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 Sofisa S.A. ("Sofisa")
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)
$ 0.20 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)
$ 0.20 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 Jul 15, 2021

Disclosed by Bank Mar 19, 2021


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Project Description

The proposed credit transaction (the “Project” or “Financing”) consists of a syndicated A/B transaction of up to US$ 200 million to Banco Sofisa S.A. (“Sofisa” or “Bank”), to be structured as follows: (i) US$20 million held by IDB Invest; (ii) US$30 million held by IDB; (iii) US$25 million mobilized through potential cofinancing, financed by IDB Invest in its capacity as administrator of the Chinese Cofinancing Fund for Latin America and the Caribbean (the “Fund”); (iv) US$50 million held by other Co-lenders; and (v) US$75 million mobilized through potential B-lenders. The purpose of the project is to support Sofisa in its efforts to increase financing provided to small and medium-sized enterprises (“SMEs”), including those impacted by COVID-19, and contribute to Sustainable Development Goals (“SDGs”). At the same time, IDB Invest will provide technical advisory services to Sofisa, enabling Sofisa to increase the share of companies owned and controlled by women in its portfolio of clients, by reinforcing its internal capacities and practices of diversity and inclusion.

Investment Description
  • IDB Invest (IDBI)
Private Actors
Contact Information

Name: Joao Ceneviva
Title: Treasurer
Phone number: + 55 11 3176-5866
Email:
jceneviva@sofisa.com.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).