Chile's state-run BancoEstado has obtained a 5-year loan of US$150mn from German development bank KFW Bankengruppe, BancoEstado said in a press release.
The Chilean bank said the funds will be used to provide financing for SMEs with the aim of supporting the country's economic growth and development of the SME sector.
KFW Bankengruppe focuses on SME, foreign trade, mortgage and educational lending. The German bank also supports developing countries through investments in financial systems, infrastructure and the environment.
BancoEstado is Chile's only state-run bank and is the most active financial institution in supporting local SMEs.
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