45666 - Santander GHP Br

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Summary of Investment Information

Project Number

45666

Company Name

BANCO SANTANDER BRASIL SA

Date SPI Disclosed

Oct 11, 2021

Country

Brazil

Region

Latin America and the Caribbean

Projected Board Date

Nov 11, 2021

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Jun 11, 2025

Department

Regional Industry - FIG LAC

Industry

Financial Markets

Previous Events

Approved : Nov 30, 2021
Signed : Mar 15, 2022
Invested : Mar 17, 2022

Sector

Commercial Banking - General

Project Description

The indicative proposed investment consists of a 3-year loan of up to US$150 million to Banco Santander (Brasil) S.A. (“Santander” or the “Bank”), an existing IFC client since 2009. The Project aims to support the Bank’s consumer finance lending to healthcare services Micro, Small and Medium Enterprises (“MSMEs”) as well as doctors and health professionals to purchase medical equipment (“MedTech”) to meet the increased service demand to fight COVID and further equipping the Brazilian health system for future resilience (“the Project”). In addition, up to 30 percent of the loan may be used to finance working capital needs for MSMEs (MedTech manufacturers or distributors and healthcare services providers). As a result of the proposed use of proceeds, this Project is processed under the Global Health Platform (“GHP”), a US$4 billion IFC program with the objective of mobilizing private investment to close the healthcare supply gaps in the wake of Covid-19.

Associated Advisory Engagement

IFC is currently discussing with Santander possible advisory service for the scope of the Project.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	150.0
Equity

IFC's loan to the financial institution described in this SII is targeted for on-lending to the following sector(s):

Product Type	Use of Proceeds
Straight Senior Loan	MAS Projects (non-agri JVs/Climate)

IFC's Definitions of Targeted Sectors can be found here.

Development Impact

The Project is expected to improve the availability of financing to MSMEs as well as doctors and health professionals to (i) continue to address the immediate COVID crisis by expanding access to relevant MedTech for the diagnosis and treatment of COVID patients and (ii) support the ongoing strengthening of services for this pandemic and future preparedness with response capacity by further equipping the healthcare system and contributing to address supply demand gaps.

E&S Category Rationale / Risks and Mitigation

The project will support Santander Brasil portfolio to finance equipment acquisition by health service providers in the context of the COVID-19. The project will target individuals (doctors and health professionals), MSMEs health clinics and hospitals. Eligibility criteria will use IFC's MSME definition with tickets limited to up to US$2 million (limit for medium enterprises). The E&S risks are mainly associated with Occupational Health and Safety (OHS) related themes and expected to be of a medium to low risk nature. Therefore, the project has been classified as Category FI-2 according to the IFC's Sustainability Framework. The Project will not support coal-related activities, or higher risk business activities that may include: a) involuntary resettlement, b) risk of adverse impacts on indigenous peoples, c) significant risks to or impacts on the environment, community health and safety, biodiversity, cultural heritage or d) significant occupational health and safety risks. IFC's applicable E&S requirements for this project will be the Exclusion List and national relevant E&S laws and regulations.

The key E&S risks related to the Project derive from the Bank's capacity to identify and manage E&S risks of the targeted portfolio, which are expected to be of a low to medium nature and related primarily to Occupational Health and Safety (OHS) risks including Life and Fire Safety risks. Potential identified risks are overall associated to adequate equipment usage and facilities management. As part of the Project, the Bank will be required to: (1) maintain its Environmental and Social Management System (ESMS) procedures to apply the Exclusion List and local E&S regulations to the project's asset class sub-projects; (2) remain committed to apply labor standards established by the IFC Performance Standard 2; and (3) submit a periodic report to IFC. E&S Risk Management System Santander Brasil has a local E&S Risk Policy and is also an Equator Principles signatory since May 2009. The Bank is an existing IFC client with an ESMS in place, with procedures that include IFC exclusion list screening and applicable host country laws review, in line with the Project requirements. Santander performs MSME E&S assessment while on-boarding new clients. For the targeted health care portfolio, the process starts through Santander Consumer Finance (SCF) division onboarding of selected health service providers. If foreseen by the Brazilian health regulatory agency, all financed MedTech have the required approvals. The credit department also relies on the support from a dedicated E&S team for guidance or specific sub-project review when needed. The Bank has an E&S section in induction programs and a series of programs available for its Risk, Sales and compliance departments Through website, corporate phone (voice and text) contact, Santander can receive and respond to third party concerns.

Contacts

For Inquiries About the Project, Contact

Banco Santander (Brasil) S.A.
Eugenio Zaccaro Pagotto
Funding Manager
+55 (11) 3012-6753
eugenio.pagotto@santander.com.br
Av. Juscelino Kubitschek, 2241/2235, Sao Paulo
www.santander.com.br

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