Historical series Itaú Unibanco joins Retomada RS impact fund
São Paulo, October 9, 2024 – Itaú Unibanco announces its participation in the Retomada RS impact fund, created to support micro-, small- and medium-sized entrepreneurs whose businesses were affected by the heavy rains in Rio Grande do Sul. Structured by Estímulo, an impact fund created during the pandemic, Retomada RS has initial funding of R$50 million, making it the first and largest fund created in Brazil for economic recovery after climate disasters. The initiative seeks to reactivate the local economy, financially supporting entrepreneurs affected by the rains by providing accessible credit, with easy conditions and free instruction. As well as providing financial support, the bank has also backed the initiative by enlisting the help of other donors who are taking part in this initial stage of the movement.
This initiative joins others that Itaú Unibanco has already carried out on behalf of the victims of the heavy rains that hit the state of Rio Grande do Sul, totalling R$25 million for the purchase of food and clothing, the cost of humanitarian flights to the region, and work to rebuild local logistics, as well as providing advertising space for fundraising campaigns coordinated by the Brazilian Union Movement. The bank also supported its clients in the region, both individuals and companies, with special measures ranging from exemption from rates, to extending payments and facilitating the opening of insurance claims.
“Itaú Unibanco has a long history of commitment to social and emergency causes, and we saw the Retomada RS impact fund as an opportunity to bolster our support for the victims of the rains in Rio Grande do Sul. By supporting micro-, small- and medium-sized entrepreneurs in the region, we accelerate the process of recovery of the local economy, positively affecting not only the companies financed by the fund, but all those whose income depends on them,” says Luciana Nicola, Director of Sustainability and Institutional Relations at Itaú Unibanco.