This deal is expected to contribute to one United Nations Sustainable Development Goals (SDGs): Gender Equality (SDG 5). This deal is the first one in the BPO/CRM segment for IDB Invest and shows the commitment with employment generation, digitalization of the Latin America economy, and the promotion of nearshoring and intra-regional services exports.
This will reinforce Atento’s solid track record on gender equality, diversity and inclusion in the workplace. In addition, advisory services will be provided to support Atento in the process of applying for EDGE certification, the leading global assessment methodology and business certification standard for gender and intersectional equity. Since Atento has more than 140,000 employees, 95% based in the region, this deal will support formal employment and will create opportunities for young and female workers - 64% of its workforce are females. This deal will benefit the region by increasing exports and reducing the import of digital services.Īlso, the move can help closing the digitalization gap in Latin America, bringing state-of-the art solutions, helping clients across many industries to digitalize, increase their efficiency and improve interaction with their clients, as well as their back and middle-office processes automation. This project will contribute to promote nearshoring and service export within and from Latin America and the Caribbean to the rest of the world. The financing consists of a revolving credit facility for up to $50 million with two tranches: a $43 million committed tranche and a $7million uncommitted tranche. This deal will also help Atento to reinforce its investments in next generation services, supported by technologies such as Artificial Intelligence, Data Science, automation, machine Learning and chatbots.
The proceeds will support Atento’s capital expenditure and working capital needs to grow its BPO and Customer Relationship Management (CRM) operations in several countries in Latin America, including Argentina, Brazil, Chile, Colombia, El Salvador, Costa Rica, Guatemala, Mexico, Panama, Peru, and Uruguay, to serve clients across the world.Ītento’s funding needs are required for the initial investment to start new service contract activities such as hiring and training of personnel as well as investments in the call center space and information technology equipment. Romualdez, for his part, said: “It is heartening to note that the President’s mission to the US has scored significant gains that would not only spur further economic growth but more importantly, result in direct benefits for thousands of Filipino workers in terms of job created.IDB Invest has provided up to $50 million worth of financing to Atento S.A., the largest Business Process Outsourcing (BPO) company services in Latin America and the Caribbean. The President thanked Atento President Fili Ledezma Soto and Chief Delivery Officer Josh Ashby and assured them that they made the right decision as “Filipinos speak and write the best English". Marcos also met with officials of business process outsourcing (BPO) firm Atento, which has decided to set up its first call center in the Philippines at the Iloilo Business Park in Mandurriao district of Iloilo City. John Padgett, who also represents Carnival Cruise Line, Holland American Airlines and Seaborn, praised Filipino workers for their hospitality and competitiveness in the global workforce. told him that his group of companies was set to hire some 75,000 Filipino seafarers in the next three to four years. In one of Marcos' many meetings in the US since arriving there over the weekend, the president and CEO of Carnival Corp. will continue to attract more foreign investment to our country, which will help us achieve our goal of inclusive growth,” added the Leyte 1st district congressman. “The Philippines has a lot to offer foreign investors, including a young and growing workforce, a strategic location, and a favorable business environment," said Romualdez, who is accompanying President Ferdinand "Bongbong" Marcos Jr. House Speaker Martin Romualdez proudly made this statement Wednesday, May 3 following an announcement that some 75,000 Filipino seafarers were going to be hired by a United States (US) firm in the next three to four years.
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