Company name

Caja 18

Project number

13215-01

FI-3 operations are those where the risk potential is considered low: the FI’s current or future portfolio consists of financial exposure to business activities that predominantly have minimal or no adverse environmental and social impacts.

E&S category
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FI-3

Country

Chile

Sector

N/A

Status

Proposed

Disclosed date

06/21/2021

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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10/25/2021

Approval date

09/07/2021

Signed date

N/A

Sponsoring entity

N/A

Team leader

Paredes, Cristina

Investment type

Financing requested

N/A

Syndicated amount

N/A

Financing amount

USD $ 20,000,000

Currency

CLP

Project scope and objective

The proposed project includes a financing mechanism for Caja de Compensación de Asignación Familiar 18 de Septiembre (“Caja 18”) that will allow Caja 18 to deepen and expand its financial inclusion program for workers and pensioners, improving access to financial services to sectors excluded and neglected from traditional banking. This project will help Caja 18 to structure sustainable financing for an amount of up to CLP14,165 million (equivalent to US$20 million), which will have a term of up to three years with a one-year grace period.

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Environmental and social review

IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

ESRS CAJA 18 ENG PUBLIC DISCLOSURE 21-JUN-2021

174.1 Kb

ESRS CAJA 18 ENG PUBLIC DISCLOSURE 21-JUN-2021

173.4 Kb

For inquiries, comments and information requests about the project

Request information

Learn more about how we provide private-sector solutions in the region.

Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

José Agustin Vial Cruz

POSITION

Adm. and Finance Manager

PHONE NUMBER

+600 718 18 18

EMAIL

jvial@caja18.cl

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices