Santiago, Chile, September 29, 2022.- The International Finance Corporation (IFC), part of the World Bank Group, will grant the first sustainability-linked loan to a company in the logistic services sector in Chile. The $70 million financing for AGUNSA, a world-leading company in goods and product shipping with operations in more than 20 countries in Latin America and the Caribbean, Europe, and Asia, contemplates targets related to the reduction of water consumption and gender equality.
The purpose of this long-term pioneering investment, which includes $35 million from IFC and $35 million from SDG-focused investor ILX Fund, is to provide financial certainty to an actor that has consolidated its local position and its international diversification and expansion. In the process, the investment is expected to contribute to a greater development of the logistics sector in Latin America and the Caribbean, an important engine of economic growth in the region.
David Tinel, IFC's Regional Manager for the Southern Cone, stated: "In a context of economic slowdown and stricter financial conditions in Chile, this investment in AGUNSA aims to increase productivity and competitiveness in the region by way of promoting trade and economic integration." Tinel also highlighted the company's sustainability strategy and its replicability in the area in which it operates.
AGUNSA's CEO, Fernando Rodríguez, said that they are proud to be the first company in the Chilean logistics industry to achieve a sustainability-related credit, with concrete environmental and diversity commitments. "This agreement is the result of the permanent and transversal work of all the organization, being part of AGUNSA's business strategy." He added that linking this funding to sustainable goals generates value and reinforces the firm's commitment to sustainability.
Felipe Valencia, AGUNSA's Finance Manager, highlighted that this project reinforces the company's performance based on financial robustness and an efficient business model, with credit lines with competitive conditions. The agreement allows them to provide high-standard services, in line with the best practices for financial tools and with a trend that will be an industry requirement in the following years.
AGUNSA's commitment is linked to the SDGs. Specifically, concerning SDG 6 (Clean water and sanitation) and SDG 12 (Sustainable production and consumption), the company is stimulated to reduce freshwater consumption on its premises by 2025. Regarding SDG 5 (Gender equality), the company commits to continue making headway toward gender equality and leveraging the role of women in high executive positions.
Additionally, AGUNSA will continue developing its corporate sustainability policies, plans, and programs by adopting IFC's Performance Standards. This will allow them to continue carrying out their business in a sustainable manner and confirms their commitment to this matter worldwide.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.
About AGUNSA
AGUNSA is a Chilean multinational company, leader in agency services as well as land, sea, port, and air logistics. The broadness of its services makes the company an integral logistics platform with a presence in more than 20 countries, located in America, Europe and Asia. It has a renowned trajectory of more than 62 years, a team of 5,000 collaborators and a projected annual income of $800 million. For more information, visit www.agunsa.com.
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