Brazil Emergency Assistance Program for Economic Recovery (NDB-brazilemergencyassist)

  • Brazil
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest (IDBI)
  • New Development Bank (NDB)
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
Dec 7, 2020
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.
Government of Brazil
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Finance
  • Industry and Trade
  • Law and Government
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)
$ 1,000.00 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.
Currency conversion note:
Bank reported USD 1.0 billion
Converted using 2020-12-18 exchange rate.
Project Cost (USD)
$ 3,500.00 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.
Currency conversion note:
Bank reported USD 3.5 billion
Converted using 2020-12-18 exchange rate.
Primary Source

Original disclosure @ NDB website

Updated in EWS Dec 18, 2020

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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.
<table border="0" width="100%" cellspacing="0" cellpadding="0"> <tbody> <tr> <td style="width: 16%; text-align: left;"><strong>Project Context</strong></td> <td style="width: 84%;" colspan="3"><br /><br /><br /><br /> <div>The crisis unraveled by the COVID-19 outbreak represents an unprecedented impact to Brazil&rsquo;s economy. Macroeconomic indicators are deteriorating, and unemployment and household debt levels are expected to increase further. Small and Medium Enterprises (SMEs) are especially impacted as they face the most severe credit restrictions. In Brazil, SMEs represent 99% of the total number of business firms, 27% of the country&rsquo;s GDP, 52% of the employment generation and 40% of the country&rsquo;s payroll. To address the adverse impact on SMEs, the Government of Brazil (GoB) has created the Credit Access Emergency Program (PEAC). The Program consists of expansion of the existing Investment Guarantee Fund (FGI) with an additional investment of USD 3.5 billion to improve credit access, increase credit limits and reduce borrowing costs for SMEs.</div> </td> </tr> <tr> <td style="width: 16%; text-align: left;"><strong>Project Objective</strong></td> <td style="width: 84%;" colspan="3"><br /><br /><br /><br /> <div>The Emergency Program (Program) is proposed to address the adverse economic impact of COVID-19 pandemic and enable economic recovery. Its objective is to improve SMEs&rsquo; access to credit by providing guarantees to help them overcome any temporary liquidity problem, ensure the continuity of their operations, and strengthen their financial sustainability, thereby preventing significant loss of jobs.</div> </td> </tr> <tr> <td style="width: 16%; text-align: left;"><strong>Project Description</strong></td> <td style="width: 84%;" colspan="3"><br /><br /><br /><br /> <div>The NDB&rsquo;s loan (Loan) is to support the recovery of the Brazilian economy by providing resources for the Government of Brazil (GoB) to capitalize the FGI-PEAC Fund that provides guarantees to participating Financial Institution (FIs) on loans provided to SMEs.<br /> FGI was created in 2010 and is managed by the BNDES. FGI, in partnership with FIs, provides fast and less costly guarantees on SME loans availed from FIs. The Fund was expanded in 2020 under PEAC, as a response from the GoB to the COVID-19 impact on the economy. The Fund provides guarantees to participating FIs for 80% of the loans provided to SMEs, limited to BRL 10 million (USD 1.8 million) per SME per FI. No premium rate is charged and only minimum personal guarantees are required in accordance with the respective FIs&rsquo; policies.</div> </td> </tr> </tbody> </table>
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The total cost of the investment is also financed by the Brazilian Government (USD 2.3 bi) and by the IDB (USD 0.2).

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 an information request for project information through a form at the bottom of the following webpage Alternatively, you can send an e-mail to


The New Development Bank (NDB) does not currently have an independent accountability mechanism to accept complaints related to NDB-financed projects. The Bank does have a whistleblower mechanism that receives complaints about misconduct related to corruption, fraudulent practices and instances of money laundering in projects financed by the NDB and/or against the NDB staff members. To learn more about the whistleblower mechanism and how to file a complaint, access this webpage at:


Contacts NDB Borrower Implementation Agency
Project Team Leader:

Raisa Leao

Ludmila Silva

Ministry of Economy of the Government of Brazil:
Marcelo Guaranys
BNDES:Fernando Mantese

How it works

How it works