Two more banks accepted State guarantees

According to Diario Financiero, close sources explained that Santander's subscription would encourage the entrance for another banks (Banco de Chile and BCI, both Chileans) to this financing mechanism.

In its turn, Banco Itaú (the largest wholesale bank in Brazil) will also give credits with guarantee from Corfo in accordance with the same sources.

The mechanism would finance total credits for USD 400 million covering 60% of them up to USD 8 million for each company and there are five institutions providing it: Corpbanca, BICE, Security, Santander and Itaú.

Today, more than 20 projects are applying for those credits -mainly from suppliers- and being environmentally analyzed, because that is the main mechanism's requirement in order to support sustainability and sanitary improvements in the industry.