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IFC Invests in Banco Santander’s Social Bond to Boost Financial Inclusion in Brazil

IFC is investing up to $250 million in Banco Santander to expand access to finance in Brazil and support micro, small and medium enterprises (MSMEs) in the North and Northeast Regions. This will help close Brazil's social financing gap and bolster a more inclusive economic growth.

IFC's financing to Banco Santander is structured as a Social Bond as the utilization of the proceeds of the bond will be used to provide positive social outcomes such as employment generation and financial inclusion. Out of IFC's $250 million total financing, $150 million will be allocated to improve access to finance for small and medium enterprises in underserved regions of Brazil and $100 million to microentrepreneurs across the country, contributing to foster their role in the creation of a dynamic, competitive, and inclusive economy. This is IFC's first social bond subscription in US-dollars in Brazil.