A bill is before the Chilean legislature to create a state infrastructure entity, Fondo de Infraestructura (FdI), that will build, expand and rehabilitate infrastructure assets, operate and maintain them, and raise commercial bank financing. It is to come to life six months after the Chilean Congress votes it into existence.
The entity will pioneer a new model of state firm in Chile, structured as a profit-driven private company with shareholders, that will report to the Treasury and the Comptroller General. Chile vetted key fiscal aspects of the scheme with the OECD and IMF to ensure its statutes met international standards. As a result, for example, a plan to raise revenue from a tax embedded in tolls was thrown out.