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IDB to establish fund for Central America & Dominican Republic

19
Mar '07
Chilean President Michelle Bachelet and the President of the Inter-American Development Bank, Luis Alberto Moreno, signed a document formalizing the intentions of the Government of Chile and the IDB to work together to support innovation in Central America and the Dominican Republic.

The IDB promotes technology innovation involving both the public and private sectors. The Chilean Government expressed interest in establishing a fund within the IDB to finance technical cooperation for the Central American region.

These activities will include scholarships and internships and dissemination of projects in the area of technology innovation, taking advantage of best practices in Chile.

The beneficiary countries will be Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama and the Dominican Republic.

The fund will finance institutional capacity building to develop technology innovation; innovative projects to adopt and transfer technology; generation of development policies and strategies for innovation; and training of human resources in the area of technology innovation.

Chile's rich experience in all these areas helped turn the country into the most competitive in Latin America and the Caribbean. This new fund will allow countries in the Central American region to have access to high level technology transfer processes, similar to those created in developed countries, but following successful models closer to their own realities.

Moreno congratulated Chile for its achievements and especially thanked its generosity and solidarity towards its Latin American and Caribbean neighbors.

Inter-American Development Bank


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