Development finance institution International Finance Corporation (IFC) and IFC Asset Management Company (IFC AMC), a wholly-owned subsidiary of IFC, have invested US$140 million in Consorcio Financiero, a Chile-based financial services company focused on the insurance and banking sectors. IFC and IFC AMC contributed US$100 million and US$40 million, respectively to the transaction, with IFC AMC’s contribution structured through its IFC Financial Institutions Growth Fund. Consorcio Financiero will use the new funding to grow its banking operations and insurance coverage, as well as to expand in Chile and the Andean region.