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Banco Santander Colombia S.A.

$100 million
Project Brief
Not Active

A $100 million MIGA guarantee was issued to Banco Santander Central Hispano S.A. for its shareholder loan to Banco Santander Colombia S.A. The guarantee will protect the loan against transfer restriction and expropriation of funds. A quarter of the guarantee is being covered through facultative reinsurance. Banco Santander Colombia, a key provider of financial services in the country, offers a plethora of financial products and services at more than a hundred branches and customer service locations throughout the country. The financing will help the bank expand its loan service program to offer low-cost, medium-term financing to SMEs.

As a result of the project, Colombian SMEs, especially in the manufacturing sector, where they are most active, will be able to acquire new machinery and equipment. The project will thus help increase output. Simultaneously, the improved availability of sources of financing will increase competition and ameliorate the quality of the financial sector. This project supports the consolidation and restructuring of the banking sector and plays an important role in diversifying MIGA's Colombian portfolio, which currently consists of two active projects, both in the infrastructure sector.