for general extraction purposes, a 2.7% (w/v) NaHCO3 solution provides an effective balance of extraction efficiency and selectivity. The exact concentration may need to be optimized for specific applications.
Basically Sodium bicarbonate aids the extraction process rather than behaving extracting solvent. It increase the pH value of extraction solution which changes the chemical nature of extract(specially of phenols). Thus helps in extraction of phenols. In addition, sodium bicarbonate reacts with carboxylic acid to show a neutralization reaction. Hence, extraction of carboxylic acid from organic complex could be held.