BID grants a US $ 100 million loan to increase investment in Chile
The Interamerican Development Bank wants to favor the increase of investment and the growth of the economy in Chile by maintaining a stable macroeconomic environment
The loan approved by the BID will finance a program that will favor the increase in investment, contributing to sustainable growth in the South American country. Similarly, it will contribute to the improvement of regulatory frameworks that affect the processing of investment projects, and will establish a mechanism for monitoring and evaluating results for the Office of Sustainable Project Management (SPG).
Another component that includes this program are the measures that will be adopted for the alignment and strengthening of public and private organizations involved in the processing of investment projects.
Among the beneficiaries of the program are a minimum of 5,000 companies holding investment projects, of which 500 are large companies and 4,500 small and medium-sized companies. Also, public and private organizations that participate in the granting of permits for investment projects are beneficiaries.
It is expected that this initiative will have a positive impact on the investment levels of the Chilean economy, because this tool would reduce the time involved in processing permits related to investment projects and also will have a lower rate of obstacles perceived by companies to meet the requirements of public administration.
The Interamerican Development Bank’s main objective is to improve lives, so that this credit approved by the banking institution has a repayment term of 13 years and a half, under the modality of Loan to Support Multi-Policy Reforms with periods of grace of 8 years, and an interest rate based on LIBOR.