MIGA’s guarantee will support Banco Santander – Latin America’s widest international franchise and the largest private sector bank with systemic importance in the Uruguayan financial system –by helping it reduce capital requirements of some of its assets, which will lead to a reduction in the bank’s RWA on a consolidated basis. The RWA capacity that is freed up will enable Banco Santander to further support additional local lending in Uruguay, thereby supporting growth and employment in the country.
ACCOUNTABILITY MECHANISM OF MIGA
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/