Santander Uruguay Mandatory Reserves Program (MIGA-13241)

Countries
  • Uruguay
Where the impacts of the investment may be experienced.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 7, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Banco Santander, S.A.
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Apr 2, 2020

Disclosed by Bank Aug 30, 2019


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

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.

Investment Description
  • Multilateral Investment Guarantee Agency (MIGA)
Private Actors
Contact Information

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/