The International Finance Corporation (IFC) has announced a US$100 million loan to Banco Consorcio to expand access to housing finance in Chile, with a particular focus on increasing mortgage opportunities for women.
The financing comes as Chile faces a housing deficit estimated at 927,000 homes, representing around 14% of households nationwide. Higher mortgage rates and limited long-term financing have made homeownership more difficult for many families.
The IFC-backed financing is expected to help Banco Consorcio increase mortgage lending and support more women in purchasing homes. The initiative also aims to strengthen financial inclusion and contribute to a more accessible and dynamic housing market.
The investment could also support Chile’s construction sector, which accounts for approximately 7% of the country’s GDP and 10% of employment. Increased housing investment may therefore contribute to job creation and economic recovery.
The partnership builds on more than a decade of cooperation between IFC and Banco Consorcio, highlighting the role of development finance in addressing housing needs, expanding access to credit and supporting sustainable economic growth in Chile.
