Law No. 18,450 to promote private investment in irrigation and drainage works/risk law (Chile)

It allows the private sector to obtain subsidies to access infrastructure and technical irrigation systems with a view to modernizing agriculture and increasing its international competitiveness. (i) it guarantees water security; (ii) promotes efficiency in water use; (iii) incorporates and maintains irrigated agriculture in dryland areas; (iv) promotes food sovereignty and security; (v) continuous improvement of irrigation systems; (vi) adaptation to climate change; (vii) sustainable and equitable rural and territorial development; (viii) ecosystem conservation. Includes Nature-Based Solutions (NBS) with "Actions to protect, sustainably manage and restore natural or modified ecosystems that effectively address societal challenges such as climate change, food and water security or disaster risk." and adaptive, while providing benefits for sustainable development and biodiversity, it sets new statification guidelines under a new criterion: the annual income from sales and services of the applicants, including all their related entities. Only those farmers who have annual sales income less than or equal to 50,000 UF may apply. In addition, the maximum bonus for small farmers increases from 90% to 95% of the total cost of the project, increasing the bonus amounts from 400 UF to 1,000 UF for individual projects. It establishes new conditions for the allocation of resources such as, for example, projects that incorporate new irrigation surfaces in prohibition zones or with declarations of exhaustion will not be able to access the benefits. It will also be required to certify that the law on Native Forest Recovery and Forest Development is complied with, with validation from CONAF. The law establishes new conditions for the allocation of resources, such as, for example, projects that incorporate new irrigation surfaces in prohibition zones or with declarations of exhaustion will not be able to access the benefits. It will also be required to certify that the law on Native Forest Recovery and Forest Development is complied with, with validation from CONAF. In terms of environmental sustainability, the law will subsidize projects with accompanying investments that consider environmental objectives (for example, promoting water savings, wastewater reuse, biodiversity conservation, etc.). In addition, off-property projects may be required to contemplate measures to mitigate the environmental impacts that they may produce, such as watering holes for wildlife, aquifer recharge systems, or others.