Chile Economic and Social Stabilization Fund
|Chile Economic and Social Stabilization Fund|
|Assets:|| [[SWF value::$22.9 billion]]
|Reports||Sovereign Wealth Funds Contact and Information Report|
Economic and Social Stabilization Fund (ESSF) is a Sovereign Wealth Fund created by the government of Chile for investments. It was formed in 2006 and currently has more then $20 billion in assets. The International Monetary Fund has been supportive of the fund and has been working with them since the start. The ESSF receives its funding from excess copper revenue.
The Chilean government announced in February 2009 that it would start selling $3 billion from the ESSF to help fund the $4 billion government's stimulate package. It will auction about $50 million a day. In February 2013, the government announced that it would add $2 billion into the fund.
It is believe that the fund will help support rebuilding efforts after the February 27, 2010 earthquake that struck Chile.