IDB Approves US$100mn Loan for Chile’s Sustainable Energy Sector

renewenergyThe Inter-American Development Bank (IDB) approved a US$100mn loan to the government of Chile to finance a sustainable energy program.

Objectives of the program include simplifying the rate structures and processes of natural monopolies; fomenting competition in the generation and transmission segment; and promoting the development of renewables and energy efficiency, IDB said in a statement.

The program “will develop a long-term energy policy … whose goals are to boost competition and efficiency in the energy market, improve institutional capability, encourage diversification and the use of renewable energy sources, promote efficient energy use, and increase exchanges and transfer of energy at the international level,” IDB said in a statement.

Chile has stated a goal of achieving a 70% renewable-powered electricity sector by 2050.

Published by Pierre C. Bourbonnais

Pierre is highly dedicated, passionate and experienced in international NGO Management and Development programmes as well as Private Sector consulting in Latin America and the Caribbean, with six languages under his belt and tens of thousands of kilometers travelled, he has seen up close the needs of humanity. Taking a holistic approach, this website endeavours to share life lessons, concepts and stories to reflect upon and apply on a daily basis.

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