• Brazil
Geographic location where the impacts of the investment may be experienced.
Specific Location
State of São Paulo
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
May 31, 2023
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.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Water and Sanitation
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)
$ 200.00 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)
$ 200.00 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 May 4, 2023

Disclosed by Bank Apr 28, 2023

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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.

Companhia de Saneamento Basico do Estado de São Paulo (“SABESP” or the “Company”) is the largest water and sanitation service provider in Brazil and among the largest worldwide. The company, founded in 1973, is controlled by the State of São Paulo and provides services to 28.0 million people in 375 municipalities in that State. The proposed transaction consists of an unsecured, 10-year A Loan (up to 8-year average life) for up to BRL1.0 billion to SABESP to finance a selected number of subprojects with limited environmental and social (E&S) risks and impacts in water and sanitation infrastructure related to the Pinheiros River Clean Up Program capital expenditures during the 2021-2025 period. The Program entails collecting sewage waters and sending them to a centralized wastewater treatment plant before discharge to preserve water quality in one of the most important urban rivers in São Paulo City.  Eight subprojects have been identified for the use of IFC proceeds under this new investment and each one has a defined area of scope, which encompasses a whole or partial basin of a tributary of Pinheiros River. They are: (i) Pirajussara Stream (PI-03 basin), ME 01 area; (ii) Pirajussara Stream (PI-03 basin), ME 02 area; (iii) Cachoeira Stream (PI-09 basin), MS 01 area; (iv) Cordeiro Stream (PI-24 basin), MS 06 area; (v) Moenda Velha Stream (PI-09 basin); (vi) Jaguaré Stream (PI-01 basin); (vii) Cidade Jardim and Morumbi (PI-05 and PI-07 basins); (viii) Águas Espraiadas Stream (PI-22 basin). The selected subprojects were subject to Performance-Based Contracts (PBC), tied to two performance goals: (i) number of connections (households) to the sewage system; and (ii) Biochemical Oxygen Demand (BOD) measured at the tributary river mouth inferior to 30 mg/L. The contracts are divided into three phases: (i) implementation phase, consisting of the civil works involved building the infrastructure (18-24 months); (ii) the verification phase, starting upon completion of the construction, which aims at determine on monthly basis the achievement of the water quality goals (12 months); and (iii) contractor payment phase (24 months).  All subprojects are at the verification phase, meaning construction was completed between November 2021 and June 2022. The IFC proceeds will be used to finance the contractor payment phase. IFC financed a similar project with SABESP in 2022 (see 

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

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.




You can submit a request for information disclosure at:


If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly,  you can submit a complaint at the link above to IFC’s Access to Information Policy Advisor, who reports directly to IFC’s Executive Vice President.




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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