IFC, Omni Support Truck Drivers, Immigrants, Refugees, and Micro-entrepreneurs in Brazil
IFC, a member of the World Bank Group, is providing a $40 million financing package to Omni S.A Crédito, Financiamento e Investimento to support self-employed truck drivers, micro-entrepreneurs in underserved areas of Brazil, low-income immigrants, and refugees. IFC's investment will increase Omni's capacity to assist their existing as well as new clients, thus supporting the private sector's recovery in the wake of the pandemic.
The financing package consists of $20 million from IFC's own-account and $20 million from two impact investors, BlueOrchard Finance on behalf of the BlueOrchard Microfinance Fund and MicroVest. This is IFC and Omni's first project together, and also Omni's first transaction with the two investors. Omni is a Brazilian financial institution founded in 1994, focusing on the most vulnerable segments among Brazil's micro, small and medium-sized enterprises (MSMEs).