The Inter-American Development Bank (IDB) approved a US $300 million loan to Chile to: enable the country to improve the incomes of the most vulnerable people, improve the adequacy of solidarity pension systems, improve the availability of medicines at a lower cost, improve the efficiency of public spending and the quality of the budget formulation process.
The Chilean Minister of Agriculture, Antonio Walker, announced the start of the paperless phytosanitary certification between Chile and the U.S. This means that the products of plant origin being marketed between both countries will only require an electronic certificate to enter the destination country. This will streamline the export process and decrease its costs. It also represents a significant advance because, as Walker pointed out, “the U.S is a strategic partner for Chile, as more than a third of our fresh fruit is exported there.”
Isabel Quiroz from IQonsulting gave a presentation on how markets could look in 2021. According to the presentation, for Latin American and the Caribbean region, projections fluctuate between -5.2% in 2020 and a growth of 3.4% in 2021. Chile and Peru are estimated to be the countries with the best recovery, as their economies could fall to -4.5% in 2020, but they are set to increase by 5.3% and 5.2% respectively in 2021.
LATAM has suspended ticket sales on 23 routes across its network, including several domestic routes within Chile and international routes from Brazil, Chile and Peru. This is part of the carrier’s restructuring process the airline submitted as part of Chapter the 11 bankruptcy protection that seeks to make the carrier more efficient in what is likely to be a smaller post-COVID-19 market.
Engie Energia Chile has signed an agreement to supply 100% renewable power to a unit of Chilean steel and mining giant Grupo CAP. Under the agreement, the Chilean subsidiary of France’s Engie will supply 420 GWh per year to power Compania Siderurgica Huachipato (CAP Acero), located in Talcahuano. With this PPA, which will run for 15 years starting in 2021, Engie Chile will help CAP Acero’s industrial plant to avoid the annual emission of approximately 2.5 million tonnes of carbon dioxide, equivalent to planting more than 386,000 trees.