Since receiving the first World Bank development loan made to a country outside of Europe in 1948, the relationship with the country has continued to evolve through a joint learning process to address its greatest development challenges.
The World Bank´s active portfolio totals US$ 750 million, comprising four lending operations aimed at supporting a green hydrogen financing facility, improving universal primary health care, moving toward more sustainable and equitable water resources management, and improving the quality of intersectoral social protection. There is also a Reducing Emissions from Deforestation and Forest Degradation (REDD+) program for US$26 million and a US$5 million grant for implementation of carbon markets. Five Reimbursable Advisory Services agreements with a total value of US$8.29 million have been signed, and cover topics such as universal primary health care, social protection, transport, and early childhood education.
IFC has actively supported Chile’s private sector in enhancing productivity, promoting inclusion, and advancing sustainability. In the last fiscal year, IFC’s new commitments in Chile reached a record US$2.9 billion, an almost 300 percent increase compared to the same period the previous year. In terms of industry, the financial sector accounts for 70.6 percent of the total, infrastructure and natural resources for 26.3 percent, and manufacturing, agribusiness, and services for 5.8 percent.
The Multilateral Investment Guarantee Agency (MIGA) issued a guarantee for a bank loan to CODELCO to cover payment obligations under its renewable energy power purchase agreements, thus contributing to the decarbonization of the country’s largest energy consumer.