IFC Grants $100M Loan to Boost Women’s Access to Home Ownership in Chile

In a major step toward promoting gender-inclusive finance and sustainable housing, the International Finance Corporation (IFC) — a member of the World Bank Group (WBG) — has signed a US$100 million loan agreement with Banco Security to expand its mortgage lending portfolio, with a particular focus on increasing access to housing loans for women in Chile.

The operation aims to diversify the bank's long-term funding sources while supporting the sustainable growth of Chile's housing market, aligning with the WBG's broader strategy to foster inclusive, private sector–led development.

Bridging the Gender Gap in Mortgage Financing

Despite Chile's robust financial sector, a persistent gender gap in mortgage lending remains. According to the Financial Market Commission (CMF), only 41 percent of mortgage loans in the country are granted to women. This disparity reflects structural barriers such as wage inequality, lower labor force participation, and greater informality among women workers.

By directing capital to promote equitable access to home loans, IFC's financing supports women's economic empowerment and addresses one of the critical bottlenecks in closing Chile's gender inequality gap. The project also encourages financial institutions to adopt inclusive lending practices that recognize the long-term benefits of empowering female borrowers.

"Expanding women's access to mortgage loans not only reduces gender gaps but also generates jobs and boosts local economies," said Helena de la Torre, IFC's Manager for Financial Institutions in Brazil and the Southern Cone. "Through this investment, we are helping Chile create a more equitable and resilient financial system."

A Partnership for Inclusive Growth

The collaboration between IFC and Banco Security is expected to deliver tangible benefits to households and the national economy. Access to affordable housing finance stimulates construction activity, job creation, and demand for local materials and services, creating a multiplier effect across sectors.

"Through this financing to Banco Security, we reaffirm our commitment to promoting greater financial inclusion and supporting sustainable solutions that improve families' quality of life in Chile," said Jean-Marc Arbogast, WBG Country Manager for Chile.

The initiative also underscores the role of financial institutions in advancing Sustainable Development Goal 5 (Gender Equality) and SDG 11 (Sustainable Cities and Communities) by empowering women to own homes and participate more fully in the formal economy.

Banco Security's Strategic Commitment

For Banco Security, this financing marks a milestone in its long-term strategy to integrate gender equality into its lending operations and expand its housing finance portfolio.

"For Banco Security, this is a significant step — especially in the context of our merger with Banco BICE, which in 2024 received the same type of financing," said Pablo Jerez, CEO of Banco Security. "That previous experience is a key asset, allowing us to integrate best practices, lessons learned, and a shared vision regarding the role of banks in reducing financial access gaps and promoting women's economic autonomy."

The new financing builds on Banco Security's efforts to modernize its digital platforms, simplify lending procedures, and improve risk assessment mechanisms to make credit more accessible to women — particularly those entering the housing market for the first time.

Marcelo Espinoza, Head of Finance and Corporate Division at Banco Security, added: "When an institution like IFC supports a financial entity with financing of this kind, it sends a strong signal of trust and commitment to the country's sustainable development. This agreement encourages banks like ours to promote inclusion by expanding access to mortgage credit for more women."

Supporting Chile's Housing Market and Economic Recovery

Chile's housing market has faced challenges in recent years due to high inflation, rising interest rates, and slower wage growth, which have made home ownership more difficult for middle- and low-income families. The IFC-Banco Security partnership is designed to counteract these trends by strengthening mortgage liquidity and ensuring continued lending during economic uncertainty.

By stimulating the housing sector, the initiative contributes to job creation across construction, manufacturing, and real estate services, sectors that are vital to Chile's post-pandemic recovery. According to the World Bank Group, housing investments generate one of the highest employment multipliers in developing economies — creating jobs not only in construction but also in supporting industries such as furniture, retail, and transport.

A Model for Regional Replication

The IFC considers this loan a demonstration project for how gender-focused financing can be integrated into mainstream banking operations. The model combines financial innovation, social impact, and private sector partnership, and may serve as a template for replication in other Latin American markets facing similar gender-based disparities in access to finance.

The operation also complements the WBG's Gender Action Plan and its commitment to empowering women entrepreneurs and homeowners through targeted credit lines, financial literacy programs, and improved access to digital finance.

Strengthening Financial Inclusion and Economic Resilience

This initiative illustrates how sustainable finance can simultaneously advance inclusion and economic stability. By channeling funds into long-term housing finance, IFC and Banco Security are helping Chile build a more resilient banking sector, where women — often overlooked by traditional lending models — become integral participants in economic growth.

The IFC's loan also reinforces the World Bank Group's goal of promoting sustainable development through private sector investment, ensuring that financial institutions prioritize both profitability and social impact.

"Financial inclusion is not only about expanding credit," said de la Torre. "It's about ensuring that everyone — regardless of gender — can benefit from the opportunities that drive progress and prosperity."

Looking Ahead

The IFC-Banco Security loan represents more than a financial agreement; it is a commitment to transforming Chile's housing finance landscape and demonstrating the power of inclusive investment. By enabling more women to access mortgage financing, the initiative lays the groundwork for greater social equity, economic participation, and long-term stability.

As Chile continues to navigate global economic headwinds, initiatives like this serve as a reminder that inclusive growth and sustainable finance go hand in hand.