The Inter-American Development Bank (IDB) has approved a $230 million loan to help Argentina strengthen the capacities of its national innovation system, which comprises businesses, research and development institutions, and universities.
The project will foster innovation at companies producing goods and services by financing innovation processes, including technological services, equipment and infrastructure related to research, development and innovation activities.
The loan will also finance scientific and technological research and public and private not-for-profit organizations. It will also strengthen the national innovation system’s capacities through evaluations aimed at helping improve the Ministry of Science, Technology and Innovation’s information systems.
In addition to providing universities and research centers with better resources and abilities, the program will benefit small and medium-sized enterprises, helping them overcome problems associated with financing for innovation activities and connecting their needs for innovation with providers of knowledge and new technologies. All of the program’s activities will include initiatives aimed at closing the gender gap across the whole system.
The IDB’s $230 million loan is for a 25-year term, with a five year and a half grace period and an interest based on LIBOR. The government of Argentina will provide an additional $57.5 million in local counterpart funding.
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The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.
Lobera,Jose Luis
Casaburi,Gabriel Gustavo