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Congress Approves Corporate Loans Guarantee Program

CHILE

The Finance Ministry has announced that Chile's congress have approved a bill that creates a new state-guarantee program for corporate loans to small and medium-sized businesses.

  • The Program titled Fogape-Reactiva will guarantee loans up to 8 years.
  • Under a previous similar program, banks extended some 300,000 loans for ~$14b, according to the statement.

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