The government is proposing Chile’s Economic Development Agency (CORFO) act as the guarantor for the industry’s bank loans in exchange for establishing a fixed 30-year time limit for permits, which at present are indefinite.
For months, the salmon industry has been focused on driving modifications to the General Fisheries and Aquaculture Law (LGPA), and especially in the last few weeks, as the loan agreements salmon companies might reach with the banks partly depending on congressional legislating approving the changes.
In regard to the current permits, the government would make the state guarantee conditional on owners giving up the indefinite status of their permits and joining the general system.
SalmonChile
