Banco ABC Brasil S.A. (“Banco ABC”)
The objective of the proposed loan is to support the lending activities of Banco ABC, which provides loans to companies in all productive sectors of Brazil, especially agribusiness, industry, transportation, and other sectors. The proceeds of the IIC Loan will be used by companies to create jobs, build assets, and engage in international trade. The IIC’s A Loan will focus on providing financing to SMEs throughout the country, while the B Loan will be especially focused on financing companies located in the Northeast and state of Goias. The IIC’s loan will also help Banco ABC to diversify its sources of medium and long-term financing.
Environmental and Labor Issues:
This is a category FI-2 project according to the IIC’s Environmental and Social Sustainability Policy because the subprojects in the financial intermediary’s current or future portfolio are considered medium risk. To enable the Borrower to better understand the IIC’s requirements, Banco ABC shall be required to attend the IIC environmental training workshop for financial intermediaries. Each subproject will be subject to an environmental review and must comply with domestic environmental and labor laws, regulations, and standards, as well as IIC environmental guidelines. Banco ABC must also submit annual environmental reports to the IIC indicating the progress made and problems encountered in the implementation of these practices.