The proposed investment (the “Project”) consists of a 1-year straight senior loan for up to US$150 million to Banco Santander Brasil S.A. (“Santander” or the “Bank”). The Project, which can be
renewed twice for up to 3 years at IFC's discretion, will support the Bank's financing of its BRL denominated trade and working capital local portfolios, with special focus on SMEs.

There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).

The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.

The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.

An extended list of private actors is available in a separate file. 

Santander Brasil is a universal bank that focuses on retail services. The Bank conducts its operations by means of portfolios such as commercial, investment, lending and financing, mortgage lending, leasing, credit card operations and FX. Through its subsidiaries, the Bank also operates as a payment institution, leasing, securities, insurance brokerage operations, capitalization and pension plan.

The shares of Banco Santander Brasil are listed on NYSE and on Bovespa, with a free float of 10.3%. Santander Brasil is directly (13.8%) and indirectly controlled by Santander Spain, through its subsidiary Grupo Empresarial Santander (28.1%) and Sterrebeeck B.V. (46.9%).

Santander has a strong market reputation and is rated, on a global scale, ‘Ba3' (LT Bank Deposits. Ratings affirmed in May 2017, Stable outlook) by Moody's and ‘BB' (Rating affirmed in May 2017, Negative outlook) by S&P 

ACCOUNTABILITY MECHANISM OF IFC

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/