/ IDB makes a loan of 50 million dollars to a Chilean corporation that seeks social welfare23 July, 2020
The Inter-American Development Bank (IDB) provided financing to the Los Héroes Compensation Fund to promote financial inclusion. The corporation had the legal advice of Alessandri Abogados.
4 June 2020
The Inter-American Investment Corporation, a member of the IDB, provided an unsecured loan of USD 50,000,000 to the Los Héroes Family Allowance Compensation Fund, a Chilean non-profit corporation related to social welfare. This action, which diversifies its financing portfolio, seeks to advance financial inclusion by increasing social loans to its members and the digital transformation of payment methods.
One of the main characteristics of this operation is that it is one of the first international financing to a compensation fund in Chile, after the publication of circular No. 3343 in 2017, issued by the Superintendency of Social Security, which expanded the sources of financing to multilateral banks.
Alessandri oversaw reviewing the loan contract and its annexes from the perspective of local law; write and advise on the legal documents to be executed in Chile and due diligence of the borrower and issuance of legal opinion on the transaction.