Financial support for sustainable port development in Chile

CAF, Development Bank of Latin America and the Caribbean, has just reaffirmed its support for sustainable development in Chile by approving, through its board of directors, a loan of US$150 million for works related to the San Antonio Outer Harbor megaproject, the largest investment in port infrastructure ever made in the southern country.

The loan in favor of Empresa Portuaria San Antonio, guaranteed by the Republic of Chile, will finance the execution of the enabling works for the construction of the shelter and the implementation of environmental compensation measures associated with the expansion of the main gateway to the country's consumption centers and an important export route. The project is key for the commune and the province of San Antonio.

Thus, "CAF consolidates its position as a relevant multilateral financier for sustainable development and regional integration in Chile, while providing tangible solutions to Latin America's logistical challenges," said Sergio Diaz-Granados, CAF's executive president.

Puerto Exterior, which has been out to tender since January, will have two terminals, each 1,730 meters long and, as of 2036, will be able to receive state-of-the-art container ships of 400 meters in length. This development will prevent future port congestion in Chile's central macro zone, which today mobilizes 29% of the country's maritime foreign trade tonnage and represents 34% of exports and 71% of imports by value.