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Press release
July 15, 2021

IDB Invest, Proparco, FinDev Canada and Sofisa support SMEs in Brazil by facilitating access to financing

Press Releases

IDB Invest, a member of the IDB Group, has provided a financing for US$200 million to Banco Sofisa S.A. (Sofisa)...

Summary of Anticipated Development Impacts


  • Providing access to finance to local SMEs: Banco Sofisa has a focus on supporting locally owned SMEs and the individuals they employ.
  • Innovative solutions to increase financial inclusion: Banco Sofisa established a completely digital bank, Sofisa Direto, and expanded its digital platform through which it provides online receivable loans and guarantees.
  • GDP contribution through economic value-added: The transaction will contribute economic value, both directly and indirectly, through financial support for local businesses.

Market development

The loan will support the growth of the Bank’s SME portfolio in Brazil and 30% of FinDev Canada and Proparco’s share will be for Womenowned/led SMEs (“WSMEs”).


  • Addressing barriers faced by women in accessing financing: Banco Sofisa commits to channeling at least 30% (US$ 6M) of FinDev Canada’s investment to WSMEs. IDB Invest, Proparco and FinDev Canada are exploring the use of Technical Assistance (“TA”) to support Banco Sofisa in increasing the number of WSMEs in Sofisa’s SME portfolio by developing tailored products and services informed by market research, customer segmentation.
  • Supporting women’s leadership and employment: Banco Sofisa is promoting gender equality among its workforce, where women account for 45% of employees and 25% of leadership.


  • Sustainable practices within operations: Given the sector of operation, Banco Sofisa has a relatively low environmental footprint.