Chile's state business development agency Corfo has reported that it issued more than 50bn pesos (US$80m) in loans last year to over 20,000 small- and medium-sized enterprises (SMEs). The funds were targeted at boosting SMEs' investment portfolios and augment their working capital.
Corfo administered more than US$120m in long-term finance to back the development of the country's business sector.
Corfo's 2004-2006 plans will be centred on bolstering the development of the venture capital industry, promoting further institutional investment and developing new intermediaries for the issue of micro-credits, according to Corfo’s vice president Oscar Landerretche.
In 2003, the agency also assigned around 24bn pesos to finance the higher education studies of 11,500 local students.
Source: BNamericas.com
