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Itaú Unibanco to get $100M from IDB Invest to fund women entrepreneurs

IDB Invest, a member of the Inter-American Development Bank Group, will grant $100 million to Itaú Unibanco Holding SA to support the development of Brazilian women entrepreneurs.

The amount will be used to increase the access to credit of Brazilian micro, small and medium-sized companies with annual revenues of up to 8.0 million Brazilian reais and where women own at least 51% of the share capital.

This is the sixth loan Itaú has raised together with the IDB since 2010, although the first one for women entrepreneurs.

As of Nov. 27, US$1 was equivalent to 3.22 Brazilian reais.