The overarching objective of the Seoul Center for Finance and Innovation partnership was to improve and develop financial and private sectors in the East Asia and Pacific (EAP) region by delivering better technical assistance and advisory services to EAP countries. To achieve this objective, the...

The Republic of Korea's astonishing economic development commenced shortly after the end of the Korean war. Today, Korea is the world's tenth largest economy based on gross domestic product, a key development partner of the World Bank Group, an important contributor to the International...

State-owned financial institutions (SOFIs) and broader interventions by the state need to play a more prominent role in supporting financial inclusion, green activities and fostering competition among private financial providers. While SOFIs have been generally perceived as complementary to the...

The State plays an important role in the provision of financial services in Colombia through state-owned financial institutions (SOFIs), interest rate controls, mandatory investment requirements and credit subsidies. State-owned financial institutions (SOFIs) hold about 12 percent of banking...

Chile has achieved high levels of financial inclusion relative to its level of economic development across a number of headline indicators. Unlike in other countries, gaps in account ownership between men and women, rich and poor, older and younger consumers, and rural consumers are not...

The pension system in Chile is known for the 1980 establishment of a defined contribution, individual account system managed by private pension funds (AFPs). In 2008 a major reform of the system took place to address issues of low coverage and low pension rates. In 2019 the Solidarity Pension...

This Technical Note discusses household indebtedness issues in Chile from a financial consumer protection perspective. The note discusses over-indebtedness concerns and other creditrelated issues practices that appear to be adversely affecting consumers - particularly more vulnerable, lower...

This note assesses competitive dynamics and potential impediments in Chile's financial sector in order to provide actionable policy recommendations. This note contains both a quantitative as well as qualitative assessment of competition. The quantitative assessment explores market...

This technical note explores the consequences of climate risks for the Chilean financial sector, and the role the financial sector can play in mobilizing resources to finance Chile's transition to a climate resilient and low carbon economy. Globally, there is increasing attention being paid to...