Chile: IDB to grant $100 million to improve energy market

The Interamerican Development Bank has announced it will grant a $100 million dollar credit line to Chile in support of their Sustainable Energy Development plans. The move comes as part of an effort to boost an energy policy based on competition and market efficiency.

Tax minister Rodrigo Valdes, commenting on the grant, remarked that “it’s about policies that have a very important impact on the productivity and economic development of the country, contributing to a more competitive and dynamic economy.” The development program will seek to simplify the schemes and tax codes for natural monopolies in order to increase competition, facilitate the move towards renewable energies and to reduce consumer prices.

The effort to promote competition will also be directed towards the electricity generation and transmission sector, in hopes of growing the number of relevant actors and to ease the adoption of clean energy generation under freely competitive structures, helping also to strengthen the country’s energy sector.

Full Content: América Economía

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