Itau Unibanco S.A. (DFC-2020-ITAUUNIBANCOS)

  • Brazil
Where the impacts of the investment may be experienced.
Financial Institutions
  • US International Development Finance Corporation (DFC)
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.
Itaú Unibanco S.A.
The holder of the loan, grant, or other investment.
  • Finance
  • Industry and Trade
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.
Investment Amount (USD)
$ 400.00 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)
$ 500.00 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 @ DFC website

Updated in EWS Jan 4, 2021

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Project Description

The proceeds of the loan will be used to support the expansion of the small, and medium enterprise (“SME”) loan portfolio of Itaú with (i) at least 35% of loan proceeds to be dedicated to the economically disadvantaged regions in the north and northeastern states, and (ii) 30% of loan proceeds to be dedicated to 2X SMEs (the “Project”). The Project will provide essential COVID relief to most economically vulnerable northern regions and women entrepreneurs.

This Project is expected to have a developmental impact on Brazil through the issuance of loans to SME borrowers in the host country. This will include a portion of funding dedicated to women-owned and women-led clients, as well as a portion allotted for the less developed states of the country in the north and northeast regions. According to the SME Finance Forum, the SME financing gap in Brazil is an estimated $437 billion. Additionally, though the country is classified as an upper-middle-income country by the World Bank, Brazil struggles with income inequality. The country’s GINI coefficient at 53.9 is of one the highest in the world, and the income disparity between the south and north is pronounced. As the largest financial institution in Brazil, the Bank has the market penetration to issue credit to clients that otherwise have limited access to financing.

Investment Description
  • US International Development Finance Corporation (DFC)

It is a 5-year loan.

Private Actors
Contact Information


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