IFC Ups Banco Fibra Stake

The IFC and its asset management company have made a BRL160m ($100m) equity investment in Brazil’s Banco Fibra. The purchase takes the IFC’s stake to 13.0% from 7.9%, and is done in the interest of supporting credit expansion to small- and medium-size enterprises in Brazil. The IFC has put up BRL80m, and the IFC Asset Management Company’s IFC African, Latin American, and Caribbean (ALAC) Fund has put in an equal amount to become a shareholder with an approximately 5.1% position. The Steinbruch family’s Grupo Vicunha vehicle controls the bank, with 80% of the shares. The capital investments are subject to regulatory approval.