IFC and Banco Industrial Expand Financing for SMEs, With a Focus on Women-Led Businesses and the Legal Amazon

IFC, a member of the World Bank Group, and Banco Industrial do Brasil S.A. (BIB) have announced a $105 million financing package to expand access to finance for micro, small, and medium-sized enterprises (MSMEs) throughout Brazil. The investment will support women-led businesses in particular and help expand financial services in the Brazilian Legal Amazon region, contributing to promoting the country's inclusive and sustainable economic growth.

At minimum of 30 percent of the resources will be allocated to finance women-led small and medium-sized enterprises (SMEs), 10 percent will support SMEs operating in the Legal Amazon region of Brazil, and 40 percent will expand credit to SMEs across the country. The remaining 20 percent will be used to finance payroll loans in the Legal Amazon region, including those that support microentrepreneurs and undocumented businesses.