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Banco Santander, SA and the Inter-American Development Bank Formalize their Partnership

CEO Javier Marín Romano of Banco Santander, S.A. met with President Luis Alberto Moreno of the Inter-American Development Bank (IDB) to formalize their bilateral partnership in a Memorandum of Understanding (MoU). Meant to solidify an ongoing relationship between Banco Santander, S.A. and the IDB, the MoU establishes a framework that serves as a springboard for further collaboration involving issues related to banking in Latin America and the Caribbean (LAC).

Currently partnering through a secondment – a partnership mechanism that allows organizations to contribute knowhow to the region by sending an expert to the IDB—this MoU is the natural evolution of the relationship Banco Santander and the IDB have built over the past few years. Signing this MoU strengthens the positive impact of the initiatives developed together in specific areas in Latin America and the Caribbean by combining the expertise and resources of Banco Santander and IDB.

Reflective of a Santander-IDB focus on improving financial services in the region, the MoU is centered on designing and implementing projects to promote banking in the region, including the provision of financial and non-financial services to micro, small and medium enterprises (SMEs). It also supports infrastructure projects on climate change mitigation, financial literacy and other training, financing of foreign trade, and sectors with a high social relevance, such as renewable energy and housing.

Additionally, Santander joins the IDB in a commitment to promote a culture of corporate social responsibility (CSR). Both institutions will explore collaboration around research and dissemination of best CSR practices.

About the IDB

The Inter-American Development Bank is a leading source of long-term financing and technical assistance for the economic, social and institutional development of its 26 member countries in Latin America and the Caribbean.

About Banco Santander, SA

Banco Santander (SAN.MC, STD.N, BNC.LN) is a retail and commercial bank, based in Spain, with a presence in 10 main markets. Santander is the largest bank in the euro zone by market capitalization. Santander had EUR 1.34 trillion in managed funds, 107 million customers, 13,225 branches – more than any other international bank – and 183,648 employees at the close of June 2014. It is the largest financial group in Spain and Latin America.