With definition of agenda part work to promote financing for development

The working group that will generate proposals on the National System of Financing for Development is already formed and operational. Led by the Undersecretary of Economy, Javiera Petersen, the experts met for the first time this Wednesday in the offices of the portfolio, in a meeting that lasted about an hour and a half.

The authority recalled that the table aims to “generate proposals on financing for activities that are necessary according to the country’s development objectives, such as the decarbonization of the energy matrix.”

In the meeting, the agenda of the discussion was defined, which is contemplated to extend for about four months. The undersecretary explained to DF that this is made up of “four big topics”: first, a diagnosis will be made of the current system, and then we will talk about the current instruments and those that would be missing. Afterwards, corporate governance will be discussed -both instruments, institutions and the system-, and finally the sources and structure of financing according to the objectives of the system.

“There is a great harmony of all the representatives of the main financing institutions for development in Chile,” said Petersen, adding that “there is a very good spirit” to advance towards concrete proposals that strengthen financing for development.

The instance also had the telematic participation of the minister of the branch, Nicolás Grau, who is infected with Covid-19. The permanent group is also made up of the counselor of the Central Bank, Stephany Griffith-Jones; the president of BancoEstado, Jessica López; the executive vice president of Corfo, José Miguel Benavente; Corfo’s corporate affairs manager, Claudio Maggi; the vice-president of Banco Estado, Daniel Hojman; the commissioner of the CMF, Kevin Cowan; the coordinator of Capital Markets of the Ministry of Finance, Alejandro Puentes, as well as Jeannette von Wolfersdorff and José Miguel Cruz.

The group will meet again on July 1, and from then on the meetings will be every two weeks. “Each of these sessions will have very specific questions about what we have to discuss,” said the economist, recalling that this work will be a key input for the bill that they hope to have ready by the end of this year.

Along with the private

Participants in the instance highlighted the “enthusiasm” among the members, and emphasized the importance of being in talks with the private sector during the process.

Petersen pointed out that the group of experts “is the most central part of the discussion on the financing system for development,” but added that the work contemplates, for example, holding seminars -both in Santiago and in the regions- and more specific tables, to be able to discuss the subject with unions, with smaller companies and with cooperatives.

“We are going to do this discussion also with those who are the final users of the system”, that is, with the private sector and its diverse members, affirmed the undersecretary of Economy.

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