SANTIAGO, April 8 (Xinhua) -- Chile's President Sebastian Pinera on Wednesday presented the second phase of his Emergency Economic Plan, which earmarks 2 billion U.S. dollars for low-income households and small companies struggling through the novel coronavirus outbreak.
"The coronavirus pandemic threatens not just the health and lives of many of our compatriots, but also endangers and creates major difficulties for families, workers and Chilean companies. And in a way, it threatens the survival of many micro, small and medium-size companies," said Pinera.
Small businesses will receive the aid via guaranteed state-backed financing to offset the sudden halt in economic activity and income amid the lockdown.
The emergency package also facilitates bank loans with extended payback terms of up to 48 months.
The emergency package, initially announced March 19, makes 12 billion U.S. dollars, about 5 percent of Chile's GDP, available to keep companies and workers afloat.
Chile has 5,546 confirmed COVID-19 cases and 48 deaths from the disease, the Ministry of Health reported on Wednesday.
