Corfo

Overview

CORFO (Corporación de Fomento de la Producción), founded 1939 by President Pedro Aguirre Cerda originally to oversee reconstruction after a devastating 1939 earthquake, is one of the first national development banks in Latin America. Historically funded via special taxes (notably on US-owned copper mines) and foreign loans, it built basic industries (oil, power, steel, sugar, transportation) during Chile's Presidential Republic era and remains central to the country's economic-development strategy today.

Key Facts

Type

Government