Bradesco SME (IFC-37649)

  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
  • Brazil
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
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
Dec 18, 2015
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.
Banco Bradesco S/A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Finance
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 375.00 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.
Currency conversion note:
Bank reported
Converted using 2015-12-18 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 5, 2019

Disclosed by Bank Nov 20, 2015

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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.

This project provides large-scale funds to Banco Bradesco S.A., a Brazilian commercial bank. The funds will go towards loans to small and medium sized businesses in Brazil, with the goal of poverty reduction and capital flow to smaller-scale firms.

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

By working with a Bank with significant national reach, the Project is expected to have a high development impact, in particular as it will enhance access to finance for SMEs in local economies. SME finance is a key priority for IFC and this project contributes to reducing the gap because it provides long-term support for SME lending through a financial intermediary that has one of the largest reaches in Brazil. This project is particularly relevant in the current economic recession.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Banco Bradesco was founded in 1943 as a commercial bank and is one of the largest commercial banks in Brazil and Latin America. The Bank’s voting shares are owned, directly and indirectly, by (i) Fundação Bradesco (56.62%); (ii) Aguiar Family (11.23%); (iii) BBD Participações S.A. (6.10%); (iv) Bank of Tokyo Mitsubishi (2.50%); and (v) free float (23.55%). Bradesco has a strong market reputation and is rated on a global scale BBB, Baa3 and BB+ by Fitch, Moody’s and S&P’s respectively, and AAA(bra), and brAAA on a national scale.

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.

Roberto Medeiros Paula
Banco Bradesco S.A.
Avenida Paulista, 1450, 2a SL, São Paulo, SP, Brazil
Tel: + 55 11 2178-5249
Fax: + 55 11 2178-5227


The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at You can learn more about the CAO and how to file a complaint at

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