Banco PAN SA of Brazil obtained financing from IDB Invest in the amount of $150 million. This financing supports the Bank’s ESG strategy and aims to support financing and access to digital financial products and services for low-income people.

The loan consists of a $50 million contribution from IDB Invest and $25 million from the German development finance institution DEG, Deutsche Investitions (und Entwicklungsgesellschaft mbH) as co-financier. The financing is stipulated for a period of 4 years. In addition, IDB Invest, with the participation of Banco Santander and Banco Itaú, will mobilise USD 75 million through a B loan. The financing is expected to focus on supporting the silver economy (retirees), motorbike clients and micro-entrepreneurs.