DCM XP Investimentos II (IFC-42053)

Countries
  • 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
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
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
Feb 11, 2019
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.
Borrower
XP INVESTIMENTOS S.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Ring Fence
  • No Restrictions
A financial intermediary is a commercial bank or financial institution that receives funds from a development bank, sometimes for a specific lending purpose. A "ring fence" is another name for this specific purpose. These funds are then used for lending by the financial intermediary to client companies or individuals.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 85.00 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)
$ 85.00 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 Jan 17, 2019

Disclosed by Bank Jan 8, 2019

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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 Project consists of an A/B loan of up to US$85 million, of which up to US$5 million in the form of an A loan and up to US$80 million as a B loan to XP. The purpose of the IFC Loan is to finance the expansion of XP’s operations, more specifically to increase the number of clients and IFAs (Independent Financial Advisors) throughout the country.

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 Actor Relationship
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.

There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).

The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.

The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Arteris Parent Company Transport owns Arteris Bond Facility 2017 Client Transport
Atlantic Energias Renováveis Parent Company Energy owns Santa Vitoria do Palmar Wind Complex (207MW) Additional Facility 2018 Client Energy
ENEVA Parent Company Energy owns Eneva Additional Facility II 2020 Client Energy
Rumo Logistica Parent Company Transport owns Norte-Sul Railroad (1537KM) PPP Client Transport
SPVias Parent Company Transport owns SPVias Bond Facility 2018 Client Transport
XP Investimentos Investor Finance invests in Aguas De Cuiaba Parent Company Water and Sanitation
XP Investimentos Investor Finance invests in Aguas Guariroba SA Parent Company Water and Sanitation
XP Investimentos Investor Finance invests in Alsol Energias Renovaveis SA Parent Company Energy
XP Investimentos Investor Finance invests in Alupar Investimento SA Parent Company Energy
XP Investimentos Investor Finance invests in Arteris Parent Company Transport
XP Investimentos Investor Finance invests in Arteris Bond Facility 2017 Client Transport
XP Investimentos Investor Finance invests in Atlantic Energias Renováveis Parent Company Energy
XP Investimentos Investor Finance invests in Atvos Agroindustrial Participacoes SA Parent Company Industry and Trade
XP Investimentos Investor Finance invests in Belagricola Comercio e Representacoes de Produtos Agricolas Ltda Parent Company Agriculture and Forestry
XP Investimentos Investor Finance invests in Cia de Saneamento Basico do Estado de Sao Paulo Parent Company Water and Sanitation
XP Investimentos Investor Finance invests in Cia de Saneamento de Minas Gerais Copasa MG Parent Company Water and Sanitation
XP Investimentos Investor Finance invests in Cia Energetica do Maranhao {Cemar} Parent Company Energy
XP Investimentos Investor Finance invests in Concessionaria Rota Das Bandeiras SA Parent Company Transport
XP Investimentos Investor Finance invests in Contour Global do Brasil Participacoes Ltda Parent Company Energy
XP Investimentos Investor Finance invests in Csn Steel Corp Parent Company Mining
XP Investimentos Investor Finance invests in Diana Bioenergia Avanhandava Sa Parent Company Energy
XP Investimentos Investor Finance invests in Energisa Transmissao de Energia SA Parent Company Energy
XP Investimentos Investor Finance invests in ENEVA Parent Company Energy
XP Investimentos Investor Finance invests in Eneva Additional Facility II 2020 Client Energy
XP Investimentos Investor Finance invests in Itarema Geracao de Energia SA Parent Company Energy
XP Investimentos Investor Finance invests in Light Servicos de Eletricidade SA Parent Company Energy
XP Investimentos Investor Finance invests in Minerva Luxembourg SA Parent Company Agriculture and Forestry
XP Investimentos Investor Finance invests in Norte-Sul Railroad (1537KM) PPP Client Transport
XP Investimentos Investor Finance invests in Odebrecht Ambiental Sumare SA Parent Company Water and Sanitation
XP Investimentos Investor Finance invests in Restoque Comercio e Confeccoes de Roupas SA Parent Company Industry and Trade
XP Investimentos Investor Finance invests in Rodovias Integradas do Oeste SA Parent Company Transport
XP Investimentos Investor Finance invests in Rumo Logistica Parent Company Transport
XP Investimentos Investor Finance invests in Santa Vitoria do Palmar Energias Renovaveis SA Parent Company Energy
XP Investimentos Investor Finance invests in Santa Vitoria do Palmar Wind Complex (207MW) Additional Facility 2018 Client Energy
XP Investimentos Investor Finance invests in SPVias Parent Company Transport
XP Investimentos Investor Finance invests in SPVias Bond Facility 2018 Client Transport
XP Investimentos Investor Finance invests in Usina Coruripe Acucar e Alcool Parent Company Agriculture and Forestry

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.

XP Investimentos S.A. 
Deborah Rodrigues 
Communications Officer 
+55 11 3292-6591 
deborah.rodrigues@xpi.com.br 
Avenida Brigadeiro Faria Lima, 3600, 10th floor, Sao Paulo-SP, 04538-132, Brazil 
www.xpi.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/

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How it works