Provides US$45 Million Financing and Advisory Services to Caja 18 to Support Retirees and Low-Income Women Workers
Summary
This investment is aligned with our commitment to financial inclusion and innovation in Latin America, particularly in Chile, where we continue to support initiatives that empower vulnerable populations," said Helena de la Torre, IFCs Regional Industry Manager for Brazil and the Southern Cone.According to Alvaro Cambara, General Manager of Caja 18, this loan allows Caja18 to further diversify its sources of financing and will allow it to continue growing in social credit placements in the segment of pensioners, or the so-called Silver Economy, as well as in working women. Both aspects have concentrated the efforts of recent years in terms of credit, and it is important to emphasize that these segments are part of the sectors with less access to traditional banking.In addition to the financial support, IFCs Advisory Services will assist Caja 18 in developing innovative financial and non-financial products specifically designed for retirees with a focus on women. Caja 18 aims to further expand these segments by offering more customized social benefits and strengthening the high level of service for which the institution is nationally recognized.This investment aligns with IFCs strategic goals in Chile, which include increasing access to finance, promoting financial inclusion, and fostering innovation through advisory services. It also supports the WBG Gender Strategy, which focuses on removing barriers to womens ownership and control of assets. Caja 18s values are service orientation, integrity, collaboration and innovation.It currently has a solid financial position, conservative risk management and a high level of service quality, the best in the industry, with a presence throughout the national territory that includes 42 branches, 12 mobile agencies and 5 mailbox branches.