June 20, 2017 |
Banco Industrial do Brasil has secured $81.2m in financing through the IFC to increase small business loans, including women-owned companies.
The IFC has provided a five-year loan for $26.7m from its own balance sheet and also arranged a two-year $34.5m syndicated loan with four other lenders – responsAbility Investments, Commerzbank, Itau BBA and Sunstate Bank. The financing also involves a five-year $20m loan from the IFC's Managed Co-Lending Portfolio Program with institutional investors.
Brazilian midsize bank gets $81m to expand loans to SMEs, including at least 25% for women-owned businesses