Press Releases

IFC Invests US$ 300 million in Bradesco to Expand Access to Finance for Micro, Small, and Medium Enterprises in Brazil

Patricia Carvalho

Phone: (5511) 5185-6873



Lucia Porto

Phone: (5511) 3684 5899

São Paulo, December 17, 2018 — IFC, a member of the World Bank Group, is providing a US$ 300 million financing package for Bradesco, one of the largest private banks in Brazil, to boost the expansion of access to finance for micro, small and medium enterprises, helping to foment the growth of a critical sector of the Brazilian economy.

IFC’s financing package consists of a 3-year US$ 150 million loan from IFC’s own account, and a 3-year US$ 150 million loan syndicated by Banco Santander. This is IFC’s second investment in Bradesco directed to support the growth of credit to micro, small, and medium enterprises (MSMEs) operating in Arranjos Produtivos Locais - APLs  (local productive arrangements, in a free translation). The first investment, of US$ 375 million, was committed in December 2015. APLs are clusters of companies organized by the Brazilian government according to geographic areas and specific productive activities. They gain leverage through cooperation and articulation amongst themselves to achieve economies of scale and gains in competitiveness.

MSMEs play a critical role in Brazil’s economy as they generate jobs and provide essential goods and services, fostering economic growth and contributing to a dynamic private sector. MSMEs account for 27% of Brazil’s GDP and 54% of the country’s formal jobs. Yet, according to the IFC MSME Finance Gap Database, approximately 16 million MSMEs in Brazil have unmet financing needs and thus constraints with regard to increasing their productivity and growing their businesses. This corresponds to around US$ 626 billion, or 30% of Brazil’s GDP. Granting MSMEs access to financial services is vital to closing that gap. With IFC’s support, our clients in Brazil have accessed approximately US$ 7.9 billion in funding directed to MSMEs in the past 7 years.

“We believe that bringing new resources is an important opportunity to foster and expand the businesses of companies in the MSME sector in a scenario of economic improvement, " said Roberto Medeiros, director of the international department at Bradesco. The bank is part of the GTP-APL – Permanent Working Group for APLs in Brazil; the bank is active in 423 APLs in 1,543 municipalities, covering 57 different economic sectors and more than 40 thousand companies throughout Brazil.

“This partnership with Bradesco is a key element in IFC’s strategy to promote inclusive economic growth and foster Brazil’s sustainable development,” stated Ramiro Garcia, IFC Head of Financial Institutions Group for Brazil and the Southern Cone. “We are excited to continue working with Bradesco; its strategic focus on MSMEs, combined with a countrywide distribution network, is fundamental to maximize the reach of our investment and expand access to finance in Brazil”, he added.

IFC has been investing in Brazil’s private sector since 1957 to address the country’s most critical development challenges, including those of the urbanization, social inclusion, competitiveness and productivity, and management of natural resources.

About IFC

IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In fiscal year 2018, we delivered more than $23 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit

About Bradesco

Bradesco is one of the leading banks in the Brazilian financial sector with BRL 1.3 trillion in total assets and 71.2 million clients. It was founded in 1943, expanded and developed in tandem with the economic cycles the country underwent. It has a broad attendance network with over 74,000 service points throughout the whole country.  Customer service is segmented by specialist areas in line with the profile of each client. Bradesco´s business model is marked by a commitment to good corporate governance practices, with a dividend policy that offers shareholders an attractive return, and recognition for its activities in social and environmental issues.  Bradesco also has a thriving presence on the international market, with branches in New York, London, Grand Cayman and subsidiaries in Buenos Aires, México, Grand Cayman, New York, London, Luxemburg, Tokyo and Hong Kong. This is backed up by an extensive network of International Correspondent banking outlets.

Stay Connected