The role of the banking sector in the face of water scarcity
January 14 , 2021
The drought affecting Chile since 2010 has led the government to take emergency measures in order to help farmers and ranchers. According to information published by the General Directorate of Water of the Ministry of Public Works of Chile, as of November 2020, 16 water shortage decrees are in force in 79 communes, concentrated in the Valparaíso and Metropolitan regions.
In this scenario, it becomes fundamental to invest in solutions that will allow for efficient water usage. Alejandro Friedli, manager of Large Companies, Products, and Agriculture for Banco de Chile, told FreshFruitPortal.com that water is one of the most sensitive points of the agricultural business and for this reason, the banking institution has concerned itself with creating specialized financing instruments for agriculture.