The Project provides a customized structure that matches the lending operations of Banco Cooperativo Sicredi (the “Bank”) with clients of the Sistema Cooperativo Sicredi S.A. (“Sicredi”), that sell commodities (soy, coffee, etc.) with USD-denominated contracts to international off-takers. IFC’s financing will further diversify Sicredi’s USD funding and support Sicredi’s clients, primarily farmers, that seek loans under Law 4131 as a natural hedge to match USD assets with like-currency liabilities.
Sicredi is one of the largest credit cooperative systems in Brazil and is an organized system comprising 116 credit cooperatives operating under the same rules and operational model.
For inquiries about the project, contact:
Banco Cooperative Sicredi S,A.
Alceu Demartini de Albuquerque
Corporate Finance Manager
+55 51 33588825
Av. Assis Brasil, 3940 - Porto Alegre, RS - Brazil
ACCOUNTABILITY MECHANISM OF IFC
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 CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/