Argentina and Chile launch new employment support initiatives

In Argentina, Banco Nación has launched a commercial proposal to support the Labor Assistance Fund (FAL), a government initiative designed to promote formal employment and business sustainability. The bank is offering preferential financing for SMEs and large companies, including a 100% reimbursement of FAL administration fees until late 2027 and interest rate discounts of up to 3 percentage points on various credit operations. Additionally, employees of participating companies can access discounted personal loans.

In Chile, the National Training and Employment Service (SENCE) has opened applications for the Unified Employment Subsidy (SUE). This new program consolidates previous subsidies into a single instrument to incentivize formal hiring. The benefit targets priority groups, including youth aged 18-24, women aged 25-54, individuals aged 55 and older, and persons with disabilities. The subsidy provides financial support to workers—up to 10% of their monthly gross salary—and incentives to private employers, who can receive contributions of up to 20% of a worker's gross salary for a period of 12 to 15 months.