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Banco Industrial do Brasil is supporting the country’s SMEs
Project
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Signature date
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Location
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Brazil
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Financing tool
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Financing amount (Euro)
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17566974
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Financing details
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USD 20m loan
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Customer
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BANCO INDUSTRIAL DO BRASIL S.A.
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Type of customer
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Financial institution
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Country of headquarters
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Brazil
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Project number
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PBR1085
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Environmental and social ranking
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B
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco and DEG are assisting Banco Industrial do Brasil with its financing activity for local SMEs
Client presentation
Banco Industrial do Brasil (BIB) is a small Brazilian bank set up in 1994, which focuses on SME financing (84% of its portfolio). BIB’s SME strategy aims to bridge the gap in the traditional range of financing available in Brazil. The bank supports companies with net income of about USD 20m and currently has over 600 clients.
Project description
The transaction involves a USD 40m senior loan arranged by DEG, with USD 20m provided by Proparco, to the Brazilian bank Banco Industrial do Brasil (BIB). The funds will be used to support BIB’s lending activities as part of its objective to finance SMEs in the country.
Project impact
The project will promote the local development of SMEs and should support over 3,000 jobs over the next 5 years, mainly in the funded SMEs.