Supporting Brazilian women entrepreneurs

Banco Cooperativo Sicredi S.A. (Banco Sicredi) was set up in 1996 and is the central banking entity of Sistema de Crédito Cooperativo Sicredi, a federated cooperative credit system composed of 105 credit unions with more than 6.4 million members in 26 Brazilian States in 2023. In terms of assets and loan portfolio, the Group is the 7th and 6th largest national financial institution in Brazil, respectively. Through its credit unions, it mainly serves micro, small and medium-sized enterprises (MSMEs) in most parts of the country. 

Through its extensive network and physical presence, the system contributes to the local economy and promotes financial inclusion. Sicredi has integrated a program for businesswomen in its strategy and encourages women’s entrepreneurship through regional initiatives. In Bahia, the “Donas to Negocio” program offers women specific financial products and training to build their entrepreneurial skills.

The operation involves a loan to Sicredi to support the bank for its financing for MSMEs run by women, partly in Brazilian cities with a low human development index. This operation follows on from a first credit line signed with the bank in 2022, dedicated to financing small and medium-sized enterprises (SMEs) run by women. The bank is particularly active in supporting women entrepreneurs, especially in the implementation of dedicated services and products.

The main expected economic and social effects are as follows:

• The project will improve access to financing for 2,260 small enterprises and 1,235 medium-sized enterprise
• The project will support 35,800 direct and indirect jobs 
• The project will exclusively finance SMEs run by women. 50% of Sicredi’s employees are women. The project qualifies for the 2X Challenge initiative. 

Through these various expected effects on development, the project will contribute to SDG 5 (Gender equality), SDG 8 (Decent work and economic growth) and SDG 10 (Reduced inequalities).