(AGENPARL) – Fri 28 March 2025 PRESS RELEASE2025-160-EN
Santiago de Chile, 28 March 2025
EIB to provide $110 million to finance energy efficiency and renewable energy investments in Chile
$110 million loan to Banco del Estado de Chile to finance energy efficiency and renewable energy investments for small and medium businesses and industries among others, including the value chain companies for critical raw materials in the country.
Today the European Investment Bank (EIB) and Banco del Estado de Chile signed in Santiago de Chile a $110 million loan to finance energy efficiency and renewable energy investments for small and medium businesses and industries among others, including the value chain companies for critical raw materials in the country. The operation is in line with the EU Global Gateway Investment Agenda in Chile and fosters partnerships to develop sustainable local value chains in the critical raw materials segment.
The loan was signed by Daniel Hojman, President of Banco del Estado de Chile, and by Thouraya Triki, EIB Director of the International Partners Department, in the presence of the European Commissioner for International Partnership Jozef Sikela.
The project, 100% climate action, supports Chile’s transition to a decarbonised, environmentally friendly, and inclusive economy, reinforcing the country’s efforts to enhance renewable energy and energy efficiency measures. Mining companies or companies providing services to the critical raw materials sector, and implementing energy efficiency and renewable energy sub-projects, can also be targeted as final beneficiaries, thus supporting the decarbonisation of the critical raw materials supply chain, which is needed to ensure a clean energy transition in the country.
“This $110 million financing agreement between the European Investment Bank and Banco del Estado de Chile is a relevant contribution towards a cleaner and more efficient energy future. We are investing in renewable energy and energy efficiency, especially for small and medium businesses, thereby strengthening the decarbonisation of the Chilean economy. This initiative reflects our shared commitment to climate action. Through the Global Gateway Investment Agenda, Chile and the European Union are strengthening our collaboration, ensuring that economic growth and environmental protection go hand in hand,” said Jozef Sikela, European Commissioner for International Partnership.
“This agreement between BancoEstado and the European Investment Bank strengthens the cooperation between our two financial institutions, with the aim of accelerating the adoption of green energy. This complements our previous partnership, which sought to improve the financial access conditions for housing with enhanced energy efficiency standards. Sustainability is an integral part of our identity as a public bank, and green financing is one of our strategic pillars, in line with supporting Chile’s transition towards an economy committed to climate action and environmental conservation,” said Daniel Hojman, President of Banco del Estado de Chile.
“The $110 million EIB financing in energy efficiency and renewable energy generation supports Chile’s green transition and the EU’s Global Gateway Investment Agenda in Chile while strengthening energy security in the years ahead. This operation contributes significantly to decarbonise the energy supply in the country and unlocks energy efficiency potential in small and medium businesses and industry, including in the critical raw materials sector. This cooperation with Banco del Estado de Chile builds on the EIB’s global climate engagement and our support for climate action in Chile over the last three decades,” said Ioannis Tsakiris, Vice-President of the European Investment Bank.
The operation is part of the European Union’s Global Gateway Investment Agenda (GGIA) supporting projects that improve global and regional connectivity in the digital, climate, transport, health, energy and education sectors. The Global Gateway is the European Union’s contribution to narrowing the global investment gap worldwide. Between 2021 and 2027, the European Union expects to mobilise up to €300 billion of investments for sustainable and high-quality projects, taking into account the needs of partner countries and ensuring lasting benefits for local communities.
Background information
About EIB Global
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by the Member States. It finances investments that pursue EU policy objectives.
EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of Global Gateway. It aims to support €100 billion of investment by the end of 2027 – around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through its offices across the world. Photos of EIB headquarters for media use are available here.
About EIB Global in Chile
The EIB is the largest multilateral public bank in the world. In 2024 it financed around €8.4 billion in investments outside the European Union via EIB Global, the arm of the EIB created in 2022 for activities beyond Europe. Since the EIB started working in Chile in 1994, it has provided over €942 million to finance investments on favourable conditions — in terms of both maturity and interest rates — with the aim of improving Chileans’ quality of life.
About EIB Global in Latin America
EIB Global has been providing economic support for projects in Latin America since 2022, facilitating long-term investment with favourable conditions and offering the technical support needed to ensure that these projects deliver positive social, economic and environmental results. Since the EIB began operating in Latin America in 1993, it has provided total financing of around €14.9 billion to support more than 170 projects in 15 countries in the region.About the Global Gateway Investment Agenda
EIB Global is a key partner in the implementation of the European Union’s Global Gateway Investment Agenda (GGIA), supporting sound projects that improve global and regional connectivity in the digital, climate, transport, health, energy and education sectors. Investing in connectivity is at the very heart of what EIB Global does, building on the Bank’s 65 years of experience in this domain. Alongside our partners, fellow EU institutions and Member States, we aim to support investment of €100 billion (around one-third of the overall budget of the initiative) by the end of 2027, including in Chile and Latin America.Press contacts