On June 17, the Central Bank of Chile published a release announcing a new Conditional Financing facility to Increase Placements, called the FCIC2 program. The measure aims to deepen and extend commercial credit in response to the extension of the COVID-19 health emergency and will be available from July 1.

This program seeks to promote the strengthening of credit incentives for small and medium-sized enterprises, as well as non-bank credit providers. The total amount of the program will be USD 16 billion. However, no bank may collect more than USD 4 billion. 

The BCCh explained that the delivery of these funds will be linked to the dynamics of Covid-related loans and those granted to non-bank credit providers. Banks completing the first FCIC program or resigning from the execution of the outstanding balances of this program may also request them.