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IFC provides US$375 million to Bradesco to Expand Access to Finance for Small and Medium Enterprises in Brazil


Patricia Carvalho
Phone: (5511) 5185-6873                                        


Lucia Porto
Phone: (5511) 3684 5899

São Paulo, February 4, 2016 — IFC, a member of the World Bank Group, is providing a US$375 million financing package for Bradesco, one of the largest private banks in Brazil, to expand access to finance for small and medium enterprises and help boost the growth of a sector that plays a critical role in the Brazilian economy.

IFC’s financing consists of a 5-year US$ 150 million loan for IFC’s own account, and a 3-year US$ 225 million syndicated loan. The syndicated lenders are Banco Santander, S.A., Commerzbank Aktiengesellschaft, and National Bank of Abu Dhabi PJSC, with respectively US$ 90, 75 and 60 million participation.

This investment will help Bradesco continue to expand its investments in small and medium enterprises (SMEs) that are part of Arranjos Produtivos Locais (APLs), which are clusters of companies organized by the Brazilian government according to geographic areas and specific productive activities. Bradesco is a financial solutions provider for APLs, which are located in 2,175 municipalities in Brazil and account for over 3 million jobs in 59 different economic sectors.

Small and medium enterprises (SMEs) are vital for Brazil’s economic and social development, as they generate jobs and provide essential goods and services, fostering economic growth and contributing to a dynamic private sector. They account for 20% of Brazil’s GDP and 52% of its formal jobs. Yet, more than 70% of SMEs do not have the credit needed to grow their business and increase their productivity. Thus, access to financial services is vital in closing that gap and further developing the Brazilian economy. With IFC’s support, our clients in Brazil provided approximately US$ 38.5 billion to SMEs in 2014.

“We welcome IFC’s financing as it will greatly support the expansion of our investments in small and medium enterprises”, comments Marlene Millan, Bradesco Executive Director. She adds that “this investment demonstrates the confidence that IFC and the international banks have both in Bradesco and in Brazil.”

“IFC is pleased to partner with Bradesco on this project. Access to finance for SME’s is a key element of our strategy to promote inclusive economic growth and help foster Brazil’s sustainable development,” stated Ariane Di Iorio, IFC Head of Financial Institutions Group in Brazil, adding that “Bradesco’s strategic focus on SMEs allied to its countrywide distribution network will contribute significantly to maximize the reach of this financing and help expand access to finance in Brazil.”  

IFC has been investing in Brazil’s private sector since 1956 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 Bradesco

Bradesco is one of the leading banks in the Brazilian financial sector with BRL 1.0 trillion in total assets and 67.8 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.

About IFC

IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in about 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and boost shared prosperity. In FY14, we provided more than $22 billion in financing to improve lives in developing countries and tackle the most urgent challenges of development. For more information, visit

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