📋 Tender Overview
Project Number: 48390
Company Name: CAJA DE COMPENSACION ASIGNACION FAMILIAR 18 DE SEPTIEMBRE
Date SPI Disclosed: May 21, 2024
Country: Chile
Region: South America
Projected Board Date: Jun 30, 2024
Environmental Category: FI-3
Status: Pending Approval
Department: Regional Industry FIG LAC & EUR
Industry: Financial Institutions
Sector: Other Non-Banking Financial Institution (NBFI)
Project Description
The proposed investment (The Project) consists of a 4-year with a 2-year grace period senior loan of up to US$45 million to Caja de Compensación de Asignacion Familiar 18 De Septiembre (Caja 18 or the Company) to expand the Company’s social credit portfolio, including: (i) retirees; and (ii) women workers. The financial package includes an up to US$10 million A loan and an up to US$35 million mobilization, which includes US$30 million syndicated B-loan and US$5 million senior loan from IFC acting in its capacity as implementing entity for the Managed Co-Lending Portfolio Program (MCPP). The Project is in line with IFC’s strategic goal of ensuring financial and social inclusion, as well as with the WBG Gender Strategy of removing barriers to women’s ownership and control of assets.
Total Project Cost and amount and nature of IFC's Investment: The Project involves a senior loan of up to US$10 million from IFC’S own account, an up to US$35 million senior syndicated B-loan, and an up to US$5 million senior loan from IFC acting in its capacity as implementing entity for the MCPP. The financial package will be structured as a 4-year loan with a grace period of 2-years and will be disbursed in two equal tranches. The proceeds of the Loan will be used by the Company to finance both retirees (60%) and women workers (40%).
Financing Sources:
2) World Bank (WB)
1818 H Street, NW Washington,
DC 20433 USA
Tel : (202) 473-1000
https://www.worldbank.org/
