Chile unveils new economic stimulus measures

SANTIAGO. March 30. KAZINFORM Chile on Sunday announced new measures to boost its economy in addition to the stimulus plan launched in January.

The measures will focus on aid to small enterprises, easier access to bank credits and promotion of competition in the financial sector, President Michelle Bachelet said. "We want this accumulated liquidity, the high capitalization of our bank, the low risk and the good grades of credits we get from the world, to be translated into more and better loans for the entrepreneurs," Bachelet said. Bachelet said the resources of two state funds will be tripled to provide more credit to companies. The new measures will boost the competitiveness of the country's financial sector, enabling it to offer better services, lower costs and bring more benefits to the public, especially the small enterprises, she said. Bachelet said families will also benefit as credit with state subsidy will cover 90 percent of the cost for a house, up from the current 80 percent; Kazinform cites Xinhua.