Chile has unveiled a program to support small and medium-sized enterprises in the country to revive their economic activity, the Chilean government’s Economic Development Agency (Corfo) announced Tuesday.
The “Activa Chile Apoya” plan, promoted by the Ministry of Economy, Development, and Tourism and Corfo, provides for co-financing of up to 80 percent of the total cost of each project, capped at 15 million Chilean pesos (about US$15,450).
“It can be used for investments that include the acquisition of fixed assets, the restoration or construction of new productive infrastructure, and/or for working capital,” the institute told the press.
Fourteen national calls for proposals were issued in the form of standing applications, with funds allocated by region, except for the areas of Antofagasta (north) and Ñuble (south).
Last July, the Chilean government announced US$1.2 billion in aid to alleviate inflation in the country through a series of measures that will benefit more than 7.5 million people.
Among the measures announced are the Extraordinary Chile Apoya Bonus, the extension of post-natal parental leave for the winter, and the extension of the Protege Work Subsidy and the Emergency Work Family Income for the last quarter of the year.
Chile recorded a monthly inflation rate of 0.9 percent in September, bringing the 12-month variation to 13.7 percent, according to the National Statistics Institute in early October.