Chile’s Santo Tomás educational group lands IFC financing

Chile’s Santo Tomás educational group, a private company consisting of the Santo Tomás University, the Santo Tomás Professional Institute and the Santo Tomás Technical Training Center, has received a $57-million loan from the International Finance Corporation (IFC).

Posted mercredi, août 2 2023
Chile’s Santo Tomás educational group lands IFC financing

The loan will finance physical and digital infrastructure projects in higher education focused on students who come, mostly, from vulnerable environments throughout Chile.

Santo Tomás was advised on the loan by Chilean law firm Carey.

“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,” Carey said.

“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,” the law firm added.

The firm’s team advising Santo Tomás was led by partner Fernando Noriega, with associates Tomás Varela, Loreto Ribera, José Luis Enberg, Nicolás Fontaine, Felipe Reyes and María José Vidal.

Law firm Beccar Varela acted as counsel to IFC, with a team led by partners Pablo José Torretta and Carolina Serra, with associate Franco Montiel.