World Bank Group and Banco Consorcio Mobilize Financing to Expand Access to Housing and Create Jobs
Chile, Aug. 25 -- To help expand access to housing finance in Chile and enable more women to obtain mortgage loans, the International Finance Corporation (IFC), a member of the World Bank Group, announced a US$100 million loan to Banco Consorcio.The financing aims to help reduce Chile's current housing deficit, estimated at 927,000 homes, equivalent to 14% of households nationwide, at a time when access to mortgage credit has become more challenging due to higher mortgage rates and reduced availability of long-term financing. The operation is also expected to support the recovery of the construction sector, which accounts for approximately 7% of Chile's GDP and 10% of employment. This operation reflects the strength of more than a decade of...
To read the full article or to get the complete feed from this publication, please
Contact Us.