WCS Bansicredi 4131 (IFC-40600)

Countries
  • Brazil
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
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
Mar 13, 2018
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 Cooperativo Sicredi 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 @ IFC website

Updated in EWS Feb 26, 2018

Disclosed by Bank Feb 7, 2018


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Project Description

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.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

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.

Contact Information

For inquiries about the project, contact: 

Banco Cooperative Sicredi S,A. 
Alceu Demartini de Albuquerque 
Corporate Finance Manager 
+55 51 33588825 
alceu_albuquerque@sicredi.com.br 
Av. Assis Brasil, 3940 - Porto Alegre, RS - Brazil 
www.sicredi.com.br 

 

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/