51366 - GSCF San Global

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Summary of Investment Information

Project Number

51366

Company Name

GSCF Santander EUR

Date SPI Disclosed

Nov 20, 2025

Country

World Region

Region

Global

Projected Board Date

Apr 30, 2026

Environmental Category

FI-2 - Limited

Status

Pending Approval

Last Updated Date

Nov 21, 2025

Department

Global Trade & Supply Chain

Industry

other

Sector

other

Project Description

The proposed investment is a risk-sharing facility with Banco Santander S.A. and its affiliates (“Santander”) and Santander Bank Polska S.A. and its affiliates (“Santander Polska”) in a portfolio of supply chain finance-related assets for up to US$500 million with IFC investment of up to US$250 million (the “Project”).

The Project falls under the Global Supply Chain Finance (GSCF) Program, a supply chain finance program launched by the International Finance Corporation (IFC) in December 2022. The GSCF supports open account trade in the emerging markets by providing funded or unfunded risk participation in partner banks’ facilities.

The project is part of a crisis response initiative, through which IFC plays a countercyclical role when markets experience turbulence due to the negative economic impacts of the ongoing global food and energy crisis, compounded by rising inflation and increased tariff barriers.

Sponsor / Cost / Location

Development Impact

The Project helps reduce the effects of de-risking and ensure that a global systemically important bank stays engaged or expands their SCF presence in EMs. Under the GSCF, IFC will provide funded or unfunded risk participation in partner banks’ facilities given: (i) IFC's track record of crisis response efforts; (ii) its network of partner banks that support global emerging markets; (iii) its set of programs aimed at investing both large scale and transactional financing for trade and supply chain finance in emerging markets; and (iv) its ability to support private sector beneficiaries to address liquidity constraints in response to the market shocks

E&S Category Rationale / Risks and Mitigation

The Project will support short-term financing of suppliers of selected Santander and Santander Poland corporate clients (“Buyers”). Potential environmental and social risks (E&S) and issues associated with supply chain finance activities are typically associated with production of goods and commodities, the adequacy of a functioning supply chain management system and management of E&S -related reputational risks. The Project will not support coal related, oil and gas, as well as Buyers involved in higher risk 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. Therefore, the E&S risks are expected to be medium and, as such, the project is categorized as FI-2 according to IFC's Sustainability Policy

Santander’s environmental and social risk management is governed by its Responsible Banking and Sustainability Policy, which establishes the approach on sustainable banking and includes the principles, lines of action, key processes, and governance for handling environmental, social and governance (ESG) issues across all internal and external stakeholder groups. In addition, the Environmental & Social (E&S) Risk Management Policy sets out criteria for investing in specific sectors, such as metals and mining, agricultural and livestock, among others. The guidance includes proposed conditions for the transaction as mitigants and provides recommendations for any reputational risks identified. Santander has an ESCC Risk Team who analyzes Corporate Investment Banking (CIB) clients against the E&S Risk Management policy, with consultancy of Global ESCC Risks Team.

For this proposed investment under GSCS, the assessment of Buyers’ procurements practices and their capacity to manage supply chains will be part of Santander’s due diligence process. Buyers eligible for supply chain financing are typically existing Santander clients. As part of the project, Santander will review Buyers’ capacity to screen supply chains risk as it relates to the IFC Exclusion List, applicable E&S National Laws only in respect of Suppliers, and higher risk activities. IFC will periodically review and screen selected Buyers and Suppliers on a sample basis for E&S and reputational risks and verify the implementation of Santander’s ESMS. Through its website, corporate phone (voice and text) contact, the Bank can receive and respond to third party concerns.

Santander’s Corporate Human Rights Policy establishes commitments to human rights in accordance with the 2011 United Nations Guiding Principles on Business and Human Rights and is built on principles of equal opportunity, diversity, non-discrimination, and a respectful work environment. Additionally, Santander has a General Health, Safety and Wellbeing Policy that lays out commitments to ensure a safe, healthy, and inclusive work environment across the Group. It outlines responsibilities for subsidiaries, promotes preventive health and mental wellbeing, and mandates compliance with local laws, training, risk assessments, and continuous improvement. Labor practices are generally aligned with Performance Standards 2: Labor and Working Conditions.

Contacts

For Inquiries About the Project, Contact

Banco Santander S.A.
Silja Calac
Executive Director- Private Debt Mobilisation
+49 151 6734 1306
silja.calac@gruposantander.com
Marienturm, Taunusanlage 9-10, 60329 Frankfurt am Main, Germany
https://www.santander.com/

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IFC supports its clients in addressing environmental and social issues arising from their business activities by requiring its real sector clients to set up and administer appropriate grievance mechanisms and/or procedures to address complaints from Affected Communities in relation to environmental and social issues arising from IFC's clients' business activities. Since 2012, IFC's Financial Intermediary clients applying the Performance Standards are required to develop External Communications Mechanisms to receive and review inquiries or complaints from any interested party regarding the E&S risks and impacts of their operations.

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CAO receives and addresses complaints in accordance with the CAO Policy, which can be accessed at: https://www.cao-ombudsman.org/policies-guidelines.

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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