WASHINGTON (Pakistan Point News / Sputnik - 28th September, 2018) The United States and Chile have signed a memorandum of understanding to promote cooperation on energy and infrastructure investment, the US Department of the Treasury said in a press release.
"The US Department of the Treasury today signed a memorandum of understanding (MOU) with the government of Chile to foster cooperation on energy and infrastructure investment," the release said on Thursday.
Treasury Under Secretary for International Affairs David Malpass said in the release that the framework will expand energy security and facilitate economic growth for both countries.
Malpass also said that the framework will help encourage private sector capital for investments in the energy sector.
The framework will help the United States and Chile cooperate to further diversify Chile's sources of energy to power its economic growth, increase its access to the electricity grid, and accelerate its adoption of innovative power technologies, the release added.
This agreement marks the second energy instrument concluded under the US initiative called America Crece, or the Americas Grow, the release said.
