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IDB Invest Client Impact DEBrief: Sicredi Green Financing

01/13/2025 Since 4 weeks

IDB Invest has released a debrief report with the impact results from the Sicredi Green Financing project for its lifecycle (period 2019-2023). Sistema de Crédito Cooperativo Sicredi (Sicredi) is a federated cooperative credit system with a network of more than 100 cooperatives, over 2,700 branches, and over six million members across 26 states in Brazil.

IDB Invest approved a 100 million dollars investment to Bansicredi (the bank of Sicredi) in year 2019 to boost its solar energy financing portfolio for SMEs and individuals, plus additional 10 million dollars in blended finance to support cooperatives. In addition, IDB Invest provided advisory services to develop Bansicredi’s Sustainability Strategy and promote knowledge in climate finance.

Some of the key achievements include: i) multiplying by 10x the number and 6x the value of green loans outstanding; ii) 20 tons of CO2 per year net reductions in GHG emissions; iii) 39% share of green loans granted to MSMEs.

The Sicredi Green Financing project contributed to reaching the United Nations’ Sustainable Development Goals (SDGs), in particular to SDG5 Gender Equality, SDG7 Affordable and Clean Energy, SDG8 Decent Work and Economic Growth, SDG9 Industry Innovation and Infrastructure and SDG13 Climate Action.

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