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IFC and Santander Partner to Support Small Businesses and Expand Green Financing in Brazil

São Paulo, Brazil, November 3, 2020— IFC, a member of the World Bank Group, is partnering with Santander Brasil to boost access to credit for small and medium-sized enterprises (SMEs) and expand green financing in Brazil.
IFC is providing $100 million (BRL560 million equivalent) in financing to Santander Brasil through its Working Capital Solutions Program, a key component of the Corporation’s $8 billion fast-track program to mitigate the impacts of the COVID-19 pandemic. Half of the financing for Santander Brasil will be devoted to the commercialization of photovoltaic panels. Of the remaining amount, at least 20 percent will be directed to SMEs owned by women. IFC’s investment consists in a one-year senior loan, which can be renewed once, for additional 12 months. This is Santander's third transaction with IFC since 2017.
"Financing green credit lines at this moment is essential to support the transition to a cleaner economy, with focus on small businesses and entrepreneurs. In addition to being part of our strategy, it contributes to a virtuous cycle of resumption of the country’s economic activity. This new partnership with IFC allows us to expand our operations on these important fronts of action,” says Franco Fasoli, director of Companies, Governments & Institutions at Santander Brasil.
Santander Brasil is a pioneer in financing solar power generation projects, from large solar plants to the sale of photovoltaic panels to small farmers. The Bank has already made possible the financing of 285 wind farms, which account for 30 percent of the installed capacity of wind energy in Brazil. Santander Brasil is also one of the leaders in providing financing to SMEs in Brazil and has recorded a 27.3 percent growth in its loan portfolio to the segment in the 12 months through June 2020.
“The COVID-19 pandemic has been affecting economies worldwide, leaving small and medium-sized enterprises particularly vulnerable. That’s why, in addition to catalyzing green projects, IFC's loan will allow Santander Brasil to support small and medium-sized companies, including women-owned businesses, enabling them to continue their business and preserve jobs,” says Rogério Santos, IFC’s head of Financial Institutions for Brazil and the Southern Cone.
IFC has invested in Brazil’s private sector since 1957 to address the country's most critical development challenges, including urbanization, social inclusion, competitiveness and productivity, and management of natural resources. In fiscal year 2020, IFC's new long-term investments in Brazil, across all sectors, totaled $2.2 billion, including $615 million in third-party resources.
The portion of the financing focused on women-owned SMEs (WSMEs) uses resources provided by the Women Entrepreneurs Opportunity Facility (WEOF), a global finance facility dedicated to expanding access to capital for women entrepreneurs. WEOF was launched in 2014 by IFC, through its Banking on Women program, and Goldman Sachs 10,000 Women . The facility has already reached 73,000 women entrepreneurs through its investments and is on track to reach 100,000 women globally.
Charlotte Keenan, Global Head of Goldman Sachs 10,000 Women , said, “WEOF is committed to building the capacity of local banks to mitigate against the disproportionately adverse impact of COVID-19 on women-led businesses. This innovative partnership allows us to support scale of working capital finance for WSMEs in emerging markets to ensure resources for their continued growth through challenging economic times.”  
About Santander Brasil
Santander Brasil started its activities in the country in 1982 and, between mergers and acquisitions, created competitive Wholesale and Retail structures. It is part of Grupo Santander, the largest bank in the euro area by market value, with a relevant presence in 10 key countries in Europe and America. The only international financial institution with a strong presence in Brazil, it has more than 46.3 thousand employees, more than 3.6 thousand branches, and approximately 37 thousand self-service terminals, in addition to regional offices that serve more than 27.3 million active customers. In addition to offering a package of financial solutions, the bank has Prospera, a microfinance arm that includes financial education and business management courses for microentrepreneurs.
About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2020, we invested $22 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit .
About Goldman Sachs 10,000 Women
Goldman Sachs 10,000 Women is an initiative to foster economic growth by providing women entrepreneurs around the world with a business and management education and access to capital. The initiative has reached women from over 100 countries through a network of over academic, nonprofit, and bank partners. In partnership with the International Finance Corporation (IFC), Goldman Sachs 10,000 Women launched the first of its kind global finance facility in 2014 to enable access to capital to more women entrepreneurs. And now, by leveraging technology the 10,000 Women curriculum is available online through Coursera, creating access to a business education in more corners of the world.  For more information on Goldman Sachs’ philanthropic investment in female entrepreneurs,  visit
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