Chili signed a 15-year line of credit for u$s1,000 million of dollars with the Inter-American Development Bank (IDB) to promote the development of small and medium-sized companies, the Ministry of Finance reported on Sunday.
The organization, based in Washington, had approved the instrument at the beginning of December to “increase productivity and promote sustainable development”.
The Agreement for the establishment of a conditional credit line for investment projects (CCLIP), with ordinary capital resources from the bank, was signed by the minister Mario Marcel during an assembly of governors of the multilateral organization in Panama.
“This operation will basically be to deliver credits to the (state development office) Corfo as a second-tier bank to channel to SMEs through non-banking institutions”said the official, quoted in a statement.
The initiative seeks to promote sustainable development in the finance, climate action and internationalization sectors, he said.
Source: Ambito
