Carey advised International Finance Corporation (IFC) on a financing granted to the Santo Tomás educational group, consisting of the Santo Tomás University, the Santo Tomás Professional Institute and the Santo Tomás Technical Training Center, for approx. USD57 million, with the purpose of financing physical and digital infrastructure projects in higher education focused on students who come, mostly, from vulnerable environments throughout Chile.

Higher education in Chile is a heavily regulated area, and so our advice involved the review and strict compliance with communication standards to the education authorities. Additionally, this financing operation is the culmination of a cooperation relationship between IFC and Santo Tomás, which began during the Covid-19 pandemic, with IFC advising Santo Tomás on the implementation of a roadmap that contributes to improving employability of Santo Tomás students; and the strengthening of the environmental and social practices of its community.

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