IFC alongside with syndication of banks is providing a loan to Daycoval, a bank based in Brazil. Proceeds will be used for general corporate purposes. 

Facility’s use of proceeds: Financing the Borrower’s lending operations to small and medium enterprises (“SMEs”) with minimum thresholds of the loans to be used to finance Women-Owned SMEs and/or Underserved Regions SMEs in Brazil. The deal is considered as an ESG transaction (Social) as the proceeds of the loan have clear demographic targets for underrepresented groups and the loan is in support to IFC’s social impact goals. 

Furthermore, this project is part of IFC's Banking on Women Program, which supports partners and financial institutions in offering sustainable solutions to women-owned businesses.