Chile Secures $15 Million IDB Loan to Boost Export Services Sector and Digital Talent Development

“Global services represent an opportunity for Chile to diversify its export matrix, increase productivity levels, and create high-value-added jobs,” said Maria Florencia Attademo-Hirt, the IDB’s representative in Chile.

The Inter-American Development Bank (IDB) has approved a $15 million loan to strengthen Chile's global export services sector by enhancing digital talent development and improving tools for export promotion and investment attraction. This loan marks the third individual operation under a $1 billion Conditional Credit Line for Investment Projects (CCLIP), established in December 2022 to foster productivity and sustainable development in Chile.

A Push for Export Diversification and High-Value Jobs

“Global services represent an opportunity for Chile to diversify its export matrix, increase productivity levels, and create high-value-added jobs,” said Maria Florencia Attademo-Hirt, the IDB’s representative in Chile.

The program aims to:

Train 16,000 individuals in digital skills critical for international business.

Provide direct support to 400 companies, with a focus on MSMEs, women-led enterprises, and businesses outside the Santiago Metropolitan Region.

Double the number of strengthened regions from 6 to 12 by building capacity and attracting foreign direct investment (FDI) to underserved areas.

Facilitate the development of 200+ FDI projects, prioritizing regional economic impacts.

Promoting Equity and Regional Growth

This initiative addresses Chile's need to expand its global services footprint and foster inclusive growth. By targeting regions beyond Santiago, the program aims to ensure more equitable access to resources, training, and investment opportunities.

Women entrepreneurs and MSMEs are key beneficiaries, reflecting the IDB’s commitment to gender equity and support for small businesses. Additionally, the initiative will provide new opportunities for regions previously overlooked in foreign investment strategies, leveraging local talent and infrastructure for global competitiveness.

Financial and Structural Details

The $15 million loan features a seven-year amortization period, a 48-month grace period, and an interest rate based on SOFR (Secured Overnight Financing Rate). It will be matched by a $15 million contribution from local sources.

Expanded Scope and Impact

The program’s broad scope builds on lessons from earlier operations, with a particular focus on developing robust public-private partnerships to drive the global services sector forward. The initiative aligns with Chile's long-term economic strategy to diversify exports beyond traditional sectors like mining and agriculture.

In addition to digital skills training and business support, the program will modernize tools for export promotion and investment attraction, leveraging innovative technologies and approaches to better connect Chilean businesses with global markets.

Future Potential

This loan underscores Chile’s commitment to sustainable, inclusive development and its aspiration to emerge as a leader in global export services. By fostering a skilled workforce and attracting international investment, the country is poised to achieve long-term economic resilience and higher productivity across regions.

This project represents a key milestone in Chile’s collaboration with the IDB, laying the groundwork for future investments under the broader CCLIP framework.