Chile is the second least affected country in Latin America by COVID-19, according to the Economic Comission for Latin America and The Carribean (ECLAC). According to the organization, poverty at the national level went from 10.7% in 2017 to 10.9% in 2020. Meanwhile, according to the agency's estimates, extreme poverty would have increased by 1.4% to 1.6%.
The fiscal cost of the pension reform would be around $4.5 billion by 2030, according to projections of the Ministry of Finance. The reform plans to expand the coverage of the Solidarity Pillar from 60% to 80% of Chile's pensioners, which would benefit more than 2 million people.
Chile made the second issuance of sovereign green bonds in an operation for an approximate amount of $1,180 million, which considered the portfolio of projects recently certified by the Climate Bond Initiative (CBI). The 2021 project portfolio, for a total of approximately $369 million, includes initiatives related to clean transportation; renewable energy projects in vulnerable sectors; projects dependent on the Ministry of Public Works and Green Buildings whose Technical Unit is the Architecture Department.
Chile’s Patagonia National Park is set to undergo significant improvements, with funding from the Aysén regional government. The investment of 4 billion pesos ($5.6 million) will allow for the construction of a visitor centre near the Cueva de las Manos, improvement of trails within the park and of roads that connect the area with gateway communities, and other projects, all of which will benefit not only conservation but also nearby towns.
Albemarle Corp has accused a Chilean regulator of “unjust” discrimination for refusing to make public a key report on the impact of mining on the Atacama salt flat, according to court filings. Albemarle in July 2020 asked to see the publicly funded report but regulator Corfo rejected the request after Chilean miner SQM objected on grounds it contained confidential information. A government watchdog upheld the decision. Both Albemarle and SQM contributed data to the report. However, while SQM’s contract with the government allows it to review and comment on the study, Albemarle’s agreement does not.