GSCF San Global

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 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.