WCS COVID Daycoval II (IFC-47014)

  • Brazil
Geographic location where the impacts of the investment may be experienced.
Specific Location
not applicable
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Jun 21, 2022
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 Daycoval 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)
$ 100.00 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.
Project Cost (USD)
$ 100.00 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 25, 2022

Disclosed by Bank Jun 22, 2022

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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.

The proposed investment consists of a 1-year senior loan facility of up to US$100 million for Banco Daycoval S.A (Daycoval or the Bank) under the WCS Financial Institutions Response Envelope (FIGE). The facility will be renewable, at IFC's option, for two additional one-year periods (up to three years in total).The proposed WCS investment in Daycoval is expected to leverage on the previous WCS Project with the Bank (Project #43220) and continue supporting the Bank's working capital needs and trade related financing to Brazilian enterprises, which in turn feed an ecosystem of small and medium enterprises (SMEs) distributors and suppliers (the Project). Similar to Project #43220 and in order to further promote gender finance, 20% of the Project's proceeds will be channeled to Women-Owned SMEs.

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.

Through the Project, IFC will support Daycoval to increase access to finance for SMEs and WSMEs in Brazil. It is expected that this in turn will preserve jobs and enterprise growth by supporting working capital needs and trade related financing for Brazilian SMEs with a focus on women owned SMEs. In Brazil, credit penetration has been one of the most important issues in financial sector development given the structural barriers and lack of incentives for banks to service these segments. The COVID crisis has exacerbated the challenge, further tightened credit lines and hindered the growth potential of the SMEs.

Moreover, the Project will also help the financial sector increase its ability to continue to withstand shocks from the continuing devasting effects of the COVID-19 crisis and other macro vulnerabilities. Through this project, IFC is enabling Daycoval to support the working capital needs of SMEs during a time of crisis and contribute to the diversification of available financing in the market to include SMEs.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
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How it works