IDB Invest and Banco Internacional promote access to financing for MSMEs in Chile

Banco Internacional de Chile will receive a syndicated loan to promote access to and diversification of financing for micro, small and medium-sized enterprises (MSMEs) in Chile. The agreement includes 5-year term 40 million dollars financing by IDB Invest, and 215 million dollars mobilized by investors.

IDB Invest will also provide a package of advisory services to Banco Internacional with the objective of promoting a strategic sustainable finance plan, that will seek to strengthen financing in projects related to climate, gender and social issues. A diagnosis of products and processes will be carried out, in addition to updating the taxonomy to carry out a specific analysis of the sustainable loan portfolio. Banco Internacional, with technical support from IDB Invest, will work to define a decarbonization roadmap to establish an action plan to implement the recommendations of the Task Force on Climate Change Related Financial Disclosures (TCFD).