Overview

CDB provides $600 million loan to Banco Santander (Brasil) for on-lending purposes

Commitments (Constant USD, 2023)$600,000,000

Commitment Year•2023Country of Activity•BrazilDirect Recipient Country of Incorporation•BrazilSector•Other MultisectorFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: May 1, 2023

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned Policy Banks

China Development Bank (CDB)

Receiving agencies

Private Sector

Banco Santander (Brasil) S.A

Implementing agencies

Private Sector

Banco Santander (Brasil) S.A

Loan description

CDB provides $600 million loan to Banco Santander (Brasil) for on-lending purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

In May 2023, China Development Bank and Banco Santander (Brasil) S.A. signed a $600 million facility (loan) agreement. The loan reportedly disbursed in full. Its borrowing terms are unknown. However, it is known that $250 million was earmarked for ESG-related projects (e.g., wind energy, solar energy, hydroelectric power, landfills and biogas capture) undertaken by Brazilian companies.

Staff comments

1. Banco Santander (Brasil) S.A. is the Brazilian subsidiary of the Spanish Santander Group, headquartered in São Paulo, Brazil. 2. The Chinese project title is 桑坦德（巴西）银行授信项目. 3. This was the first loan issued under a $1 billion China-Latin America Special Loan for Development Cooperation (Empréstimo Especial de Cooperação e Desenvolvimento China-América Latina).