IDB considers US$ 460 million loan for Chilean reconstruction

By Chris Sleight12 March 2010

The Inter-American Development Bank (IDB) is considering a US$ 460 million loan to the Chilean government to help with reconstruction work following the February 27 earthquake.

IDB president Luis Alberto Moreno said, "The IDB, at the convenience of President Sebastián Piñera's government, is available to assist Chile overcome this disaster in all areas where we can be of help."

Among the measures the IDB is considering is the reallocation or funds that have been approved but not yet disbursed for IDB projects underway in Chile. These loans total around US$ 260 million, and the bank said another US$ 200 million could be approved quickly.

In addition to the loans, the IDB will send a technical mission to Chile on 22 march to look at other areas where it can help. Coastal reconstruction and restoring services in small municipalities are two areas it has highlighted for possible assistance.

Latest News
Allsafe to road-test diesel fuel conditioner
British scaffolder will test SulNOxEco tank additive aiming to reduce emissions and improve fuel efficiency of its service fleet as part of a five-year sustainability effort
Paccar to offer Cummins X15N gas engines
Spark-ignited 15 L engine will be used to power Peterbilt and Kenworth trucks
EU Machinery Regulation to impact rental
Regulation covers AI, cybersecurity, high risk machines and more