Banco ABC is a leading bank in corporate finance in Brazil. The bank has branches practically all over Brazil and actively contributes to the development of the agriculture sector, which structurally accounts for over 20% of its portfolio.
Proparco has been supporting the development of Banco ABC since it allocated a USD 40m loan in 2014 to support agricultural and agro-industrial companies.
This new operation, a USD 72.3m credit line, will assist the bank with the development of its green loan portfolio, either by improving the energy efficiency of some of its clients or financing its clients’ long-term investments in renewable energy and bio-fuel production projects.
The expected impacts of this financing are as follows:
- Support for some 4,250 jobs over the next 5 years.
- The mobilization of USD 114m of private finance (ratio of 1.9).
- Support for the economic development of Brazil by financing SMEs, most of which operate in the agriculture/livestock raising, trade and industry sectors.
The project will thereby contribute to Sustainable Development Goals n° 8 (Decent work and economic growth) and 13 (Take urgent action to combat climate change).
This information is given at the time of signature, without prejudice to any developments in the operation/project