3 Jul 2020
EUR 60 million
Financial institutions and SMEs
|Date of agreement:||6 Jul 2010|
|Customer:||Banco Itaú BBA S.A.|
|Amount in USD:||USD 60 million|
|Amount in EUR:||EUR 47.7 million|
|NACE sector / loan type:||Loan programme|
|Business area:||Financial institutions and SMEs|
The loan programme has been provided for financing projects that are of mutual interests to Brazil and NIB's member countries. The financing will be allocated to projects compliant with NIB's mandate.
Banco Itaú Unibanco is one of the largest financial conglomerates in Latin America. The borrower, Banco Itaú BBA (IBBA), is a wholly-owned subsidiary and the merchant banking arm of Itaú Unibanco Holding S.A. IBBA carries out wholesale and investment banking operations and has responsibility for the group's institutional treasury business.
Banco Itaú BBA was the first bank in Brazil to sign the Equator Principles (a voluntary financial industry benchmark for determining, assessing and managing social and environmental risk in project financing). Social issues are a priority for Banco Itaú Unibanco as this is a particularly sensitive area in Brazil. The environmental requirements are generally limited to verifying if relevant and valid permits are in place.