IFC Partners with Santander Chile for $100 Million Green Building Loan

IFC’s $100 million green loan to Santander Chile aims to accelerate sustainable construction and promote EDGE-certified buildings across the country.

International Finance Corporation (IFC), a member of the World Bank Group, has announced a $100 million loan to Santander Chile to speed up the construction of green building projects. This project marks IFC's first green loan in Chile exclusively for green construction and the first-ever green financing provided by IFC to the Santander Group globally.

The deal includes a sustainability-linked incentive that hinges on Santander Chile's success in meeting certain goals for moving forward with green building projects which qualify under the requirements of the Excellence in Design for Greater Efficiencies (EDGE) certification scheme.

Collaborating for a Greener Future

Jean-Marc Arbogast, World Bank Group Country Manager in Chile, said, “This investment marks an important milestone for WBG in Chile, and we are proud to achieve it with a long-standing partner like Santander.”

He said, “Over the past year, IFC and Santander have worked together to identify, finance, and monitor green construction projects. With this financing, we are helping the construction sector reduce carbon emissions and build a more resilient future for Chile.”

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IFC'S Knowledge Facilitates Opening Up Green Opportunity

This groundbreaking green finance was facilitated by IFC's Advisory Services, which provided Santander with technical knowledge, innovative solutions, and tailored advice to assist clients in obtaining EDGE certification.

IFC support played a critical role in identifying opportunities, defining the financing model, and setting the new benchmark in Chile's financial and green building sectors.