FOMENTO AGRIC CREDIT

closed

First Loan Application Report on the Bank Loans to Chile will finance the foreign exchange costs of various projects in the fields of electric power, forest industries, railway electrification, urban and suburban transportation, and port mechanization. This project will consist of replacement of the Copiapo Diesel Electric Plant, construction of the Los Holles Hydroelectric Plant, construction of Los Cipreses Hydroelectric Plant, installation of the Pilmaiquen Hydroelectric Plant, installation of secondary electrical distribution lines and Equipment, installation of the mechanical irrigation equipment, and importation of construction equipment. The Bank concluded that projects for power and agriculture had a high priority one for the development of electric power and water resources and the other for the importation of agricultural machinery and equipment. This project will provide for the purchase and importation of agricultural machinery which will increase the productivity of Chilean agriculture.