SanChile RSF V (IFC-52065)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • Chile
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 19, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Banco Santander Chile
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Finance
  • Industry and Trade
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 400.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 400.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Apr 2, 2026

Disclosed by Bank Jan 26, 2026

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the IFC, SanChile RSF V consists of an unfunded risk-sharing facility with Banco Santander Chile targeting a trade finance credit portfolio, totaling at least US$500 mm, with an IFC gross exposure of up to US$400 million. The Project provides an efficient risk-mitigation tool for Santander to optimize its capital usage and redeploy the freed capital into micro, small and medium enterprise (MSME) loans in Chile, with at least 50% being redeployed to MSMEs investing in energy efficiency initiatives, waste management and low-carbon transportation assets.

To optimize the credit protection provided to the Bank, IFC mobilized a third-party investor to provide first-loss protection to IFC.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

As stated by the IFC, the Project consists of a risk sharing facility with Santander for up to 80% of the total portfolio amount of at least US$500 million, with an IFC gross exposure of up to US$400 million in the form of an unfunded risk participation. The total capital conserved per annum will be 100% redeployed in MSME loans in Chile, with at least 50% being redeployed to MSMEs investing in energy efficiency initiatives, waste management and low-carbon transportation assets.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the IFC, Santander Chile is the second largest private bank in Chile (the Country) in terms of assets (US$70.7 bn), being the largest foreign bank in the Country (in terms of assets as well) and belonging to Banco Santander Spain (Santander Group). As of September 2025, it held 16.7% of the Chilean financial system’s assets, 15.0% of loans, and 14.0% of deposits.

With a wide branch network comprised of 231 branches (second largest in the Country) and standing as the Country’s largest retail bank, Santander covers Chile’s widespread territory with presence in all the national states. Beyond retail, the Bank is also engaged in the commercial segments through small and medium enterprises (SMEs) and corporates (including medium & large corporates and institutional clients). The Bank is very active in the mortgage segment, being the largest player in the banking system with a market share of 18.7% in terms of mortgage loans.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Financial Intermediary - Banco Santander Chile:

Felipe Salles Santo - Head Capital and Profitability Management
Phone: +56 9 71403058
Email: felipe.salles@santander.cl 
Address: Bandera 140 piso 19. Santiago, Chile
Website: https://santandercl.gcs-web.com/  

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/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

How it works

How it works