By financing Bic Banco, Brazil’s 5th largest bank, Proparco is supporting credit for the country’s agricultural and agro-industrial companies. The entire agricultural supply chain will be strengthened.
BicBanco was founded in 1938 by the Bezerra de Menezes family in Fortaleza and is Brazil’s fifth largest private bank in terms of portfolio. It today has a network of 42 branches and offices. The bank operates in all Brazil’s States, except in the North region. In 2009, Bic Banco was recognized by Management & Excellence as the average bank the most involved in sustainable development issues in Brazil.
Proparco’s credit line will be earmarked to finance agricultural and agro-industrial enterprises. It will allow Bic Banco to meet increasing needs for medium and long-term financing in the agricultural and agro-industrial sector in Brazil.
This project will contribute to agricultural and agro-industrial development in Brazil: this sector employs 40% of the working population and accounts for a third of the country’s GDP. It will support the development of the agricultural supply chain and increase incomes for populations who are dependent on agriculture and agro-industry.