IDB Lends to Uruguay Innovation

The IDB has signed a $34m 25-year floating rate term loan with 6-years’ grace to help create and diversify products to reach new markets. The technological innovation facility aims to enhance Uruguay’s international position to compete and achieve greater integration into the world economy by diversifying export markets. It is also aimed at weaning the country off a dependency on public sector funds for research and development. The National Research and Innovation Agency (ANII) will carry out the project.