The proposed investment consists of an up to 5-year Synthetic Risk Transfer (“SRT”) that IFC is analysing to provide approximately BRL706 million (US$141 million) unfunded guarantee to Banco Santander Brasil S.A. (“Santander Brazil” or “the Bank”), an existing IFC client since 2009. The guarantee will cover the credit risk of a portfolio of approximately BRL6.3 billion (US$1.2 billion) of a majority of trade finance loans. The project aims to expand access to climate finance, as the Bank will redeploy capital savings to increase its climate finance portfolio (the “Project”).
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