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IDB Approves $400 Million Loan to Boost Chile’s Green Hydrogen Industry

The Inter-American Development Bank (IDB) has approved a loan to support the development of the green hydrogen industry and its derivatives in Chile. This operation seeks to help decarbonize the economy and generate new opportunities for the country’s productive development.

The resources will be used to finance new projects in green hydrogen, domestic demand development, human capital formation, creation of intermediate goods and services that facilitate the development of industry, applied research financing, development and technological innovation, and promotion of entrepreneurship in this sector.

The institutions, companies and enterprises that are part of this value chain, as well as workers in the industry, will benefit from the operation.

According to the International Energy Agency, by 2050 around 300 million tons of hydrogen will be produced annually — more than four times the current demand —, and nearly half is expected to be in the form of green hydrogen, which is produced from renewable energies. Given Chile’s natural advantages in producing renewable energy at low cost, the growing global demand for green hydrogen presents a great opportunity both in terms of productivity and sustainability.

To find out more details please visit : https://esgnews.com/

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