LatinNews Daily - 21 June 2023

In brief: Chile unveils new fund for green hydrogen development

* Chile’s ministers of finance, Mario Marcel, energy, Diego Pardow, and economy, Nicolás Grau, and the vice president of the state development agency (Corfo), José Miguel Benavente, have announced the creation of a fund for the development of green hydrogen and its derivatives in Chile. The fund will allocate US$1bn to the development of green hydrogen which will help catalyse private investment in production and demand projects and support the development of a domestic consumer market, as well as aiming to make Chile an exporter of green hydrogen. The US$1bn total includes a US$400m loan recently approved by the Inter-American Development Bank (IDB), a US$150m loan from the World Bank, US$100m from the German Development Bank (KfW), and US$109.67m from the European Investment Bank (EIB).

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