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Santiago, Chile. June 21, 2023. The International Finance Corporation (IFC), a member of the World Bank Group, announced a UF1,265,000 (equivalent to $57 million) loan to the higher education institutions Santo Tomás to finance physical and digital infrastructure projects in higher education focused on students, mostly, from vulnerable backgrounds in Chile. The Santo Tomás project includes the development of new locations, expansion and upgrade of existing facilities, the implementation of new IT infrastructure, and maintenance capital expenditures (including new equipment and technology). Manuel Reyes-Retana, IFC Regional Director for Latin America and the Caribbean, highlighted: "IFC's commitment to reducing opportunity gaps through education is reinforced with this loan to Santo Tomás. We are convinced that young Chileans can make a great impact on their families and society thanks to the technical-professional training offered by Santo Tomás". "This agreement with IFC is a unique opportunity to make a historic qualitative leap for Santo Tomás, which will entail great learning and experiences that will allow us to strengthen our institutions, thanks to comprehensive advice and support on social, environmental, educational and operational issues, such as employability and sustainability", commented Juan Pablo Guzmán, Rector of IP CFT Santo Tomás. Although this is the first IFC financing to Santo Tomás, the educational institutions have received active advice since the COVID-19 pandemic. IFC's long-term commitment lies in the implementation of a support module for the employability of Santo Tomás students, and the strengthening of the environmental and social practices of their community. About IFCIFC—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 Santo TomasWith more than 45 years of history and three higher education institutions –University, Professional Institute and Technical Training Center–, Santo Tomás focuses on training capable professionals and technicians, with a high sense of social responsibility, who contribute to the development of the country. and their communities. Every campus is accredited by the National Accreditation Commission (CNA-Chile), which guarantees the quality of the training we provide to our nearly 90,000 students in 22 locations from Arica to Punta Arenas in Chile. Stay Connectedwww.ifc.org/lacwww.twitter.com/IFC_LACwww.linkedin.com/company/ifc-américa-latina-y-el-caribewww.facebook.com/IFCwbgwww.instagram.com/ifc_org/www.youtube.com/IFCvideocastswww.twitter.com/IFC_orgwww.ifc.org/SocialMediaIndex
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