In response, since 2008, CORFO in collaboration with KfW has been providing low-cost funding to commercial banks for financing renewable projects. In its first phase, the programme allocated nearly USD 140 million, mostly to small hydro projects. In 2011, the programme was extended by USD 90 million, and again in 2014, when it received USD 133 million to specifically target solar projects (OECD, 2016).