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IDB supports program to help increased investment and growth in Chile

Program will create the Office of Sustainable Project Management and strengthen the agencies involved in the processing of investment projects

The Inter-American Development Bank (IDB) approved a loan of $100 million to finance a program that will help the increase in investment and contribute to the sustained and sustainable growth of Chile.

The project objectives include maintaining a stable macroeconomic environment, as well as supporting the creation and operation of an institutional structure for the efficient processing of investment projects and strengthening the public and private organizations involved in the processing of investment projects.

In the same way, it will support the improvement in the regulatory frameworks that affect the processing of investment projects, and the establishment of a mechanism for monitoring and evaluating results for the Office of Sustainable Project Management (GPS).

Precisely, among the components of the program is the creation and operation of the GPS Office, in practice a coordination mechanism and support for the efficient processing of investment projects. Other components are the measures that will be adopted for the alignment and strengthening of public and private organizations involved in the processing of investment projects and the preparation of proposals for improvement in their regulatory frameworks, as well as for the implementation of a monitoring mechanism. and evaluation of results in the GPS Office.

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, and public and private organizations that participate in the granting of project permits are also beneficiaries. investment.

In addition, it is expected to have a positive impact on the level of investment of the Chilean economy, through the reduction of the processing times of permits for investment projects, a lower rate of obstacles perceived by companies to meet the requirements of the public administration, and of a greater diffusion of the activities, management indicators and the results achieved by the GPS Office.

The IDB loan of $100 million is structured under the Multiple Reform Policy Reform Support Loan, has a repayment term of 13 and a half years, a grace period of 8 years, and an interest rate based in LIBOR.

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The Inter-American Development Bank  is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region. 

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Pablo Angelelli
IDB Project Team Leader
pabloan@iadb.org