In Brazil microcredit loans for women improve financial inclusion and reduce poverty, often through innovative lending to teams of female entrepreneurs
Banco do Nordeste, based in Fortaleza, is the largest Brazilian regional development bank
Its Crediamigo programme of subsidised microcredit is the biggest in Latin America, having disbursed over €1.97 billion in 2021 to micro entrepreneurs in urban areas.
To better serve female entrepreneurs, Banco do Nordeste created Cedriamigo Delas, a microcredit line specifically for women.
In Crediamigo, around 67% of our clients are women,” says Fabrizzio Leite Feitosa, director of urban microfinance and micro companies at Banco do Nordeste.
European Investment Bank signed a €200 million loan with Banco do Nordeste in March 2022. This financing targets micro businesses led by women to improve their quality of life and financial inclusion
The EU bank’s loan qualifies for the 2X Challenge, an initiative lead by G7 development institutions, which deploys and mobilises capital to empower women and enhance their economic participation.