BancoEstado focuses on gender for economic reactivation by successfully issuing a Women's Bond in JPY
BancoEstado issued JPY$10 billion, equivalent to US$95 million, for a 5-year term.
Santiago, October 8, 2020.- BancoEstado issued JPY$10 billion, equivalent to US$95 million, for a 5-year term.
This issuance confirms the bank's commitment for financial inclusion of women in Chile, consequently committing itself to actively promote their access to microcredits. The bank continuously seeks to improve women entrepreneurs’ access to financial and non-financial services by contributing to strengthen and develop their trades and support the economic empowerment of women in the country.
The bond will allow to reinforce the “Crece Mujer Emprendedora” program, which will have a special bearing within the framework of efforts to reactivate and support Small and Medium Size business that BancoEstado is currently developing.
As of July 2020, the portfolio of BancoEstado Microempresas (Microfinance) funds 83,250 commercial loans to 110,000 women out of 290,000 enrolled in the CreceMujer Program.
This Bond is the third Women's Bond issued by BancoEstado in the international markets and the sixth that includes a ESG criteria (Environmental, Social and corporate Governance factors) bearing in mind local and international markets, following the trend of world financial markets.
On this matter, Mr. Sebastián Sichel, BancoEstado’s Chairman of the Board, guaranteed “we are committed to economic reactivation and we firmly believe that women will be one of the main drivers. Our challenge is to support them by easing access to funding, and through supporting programs such as “Mil Mentorias” (A Thousand Tutorials) or the new center CreceAquí”.