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brazil city green projects banco daycoval
Proparco has just granted a five year $75 million senior credit line to Banco Daycoval, a financial institution committed to supporting SMEs. This new partnership, announced following FELABAN's 57th Annual General Meeting, aims to support the development of the Brazilian bank's portfolio of climate co-benefit loans.

Founded in 1968, Banco Daycoval is wholly owned by the Dayan family. Based in Sao Paulo, it is well established throughout the country, and particularly supports SMEs.

By joining forces with Proparco for the first time, Banco Daycoval aims to strengthen its environmental and social performance and develop its Climate Finance business. Thanks to its positioning in the SME segment, it will contribute to the development of climate co-benefit loans for Brazilian companies specializing in renewable energy, energy efficiency, Sustainable Infrastructure and Waste Management projects.

"Banco Daycoval has distinguished itself for many years through its commitment to Brazilian companies. Its ambition to further develop its "climate" loan portfolio fits perfectly with the objectives of Proparco's 2023-2027 strategy, which aims to "Act for our planet" and "Act for more equality". We are delighted to contribute to these objectives with our new partner Banco Daycoval," said Paulina Gonzalez - Deputy Head – Financial Institutions and Inclusion at Proparco.

Banco Daycoval is committed to sustainable economic development and has been exploring partnerships with Development Finance Institutions for socially oriented transactions at least for the past 15 years. This new relationship and support of Proparco is the starting point to develop new initiatives to measure and mitigate climate impacts of our portfolios” said Paulo Saba – Treasury and Investor Relations Officer at Banco Daycoval.

The project will support local employment and also contribute to Sustainable Development Goals 7 ("Clean and affordable energy"), 8 ("Decent work and economic growth") and 13 ("Action on climate change").