IFC Grants Loan to Caja Los Héroes to Promote Financial Inclusion in Chile

The International Financial Corporation (IFC), a member of the World Bank Group, has approved a loan of up to $ 60 million for Caja de Compensación de Asignación Familiar Los Héroes ( Caja Los Héroes), spanning a five-year term. This loan aims to strengthen the institution's financial inclusion program, with a specific emphasis on supporting low-income women in Chile. IFC's financing will take place in two tranches: an initial commitment of $30 million will be made at this stage, while the remaining balance may be committed in the forthcoming months in collaboration with a syndication of external investors.

This new financing seeks to further boost the growth and expansion of Caja Los Héroes' social credit framework, which serves as a valuable avenue for fostering financial inclusion. It is worth noting that this operation constitutes IFC's second investment with Caja Los Héroes, following an initial loan extended in 2018, which marked the first international financing granted to a Caja de Compensación in Chile.