The Inter-American Development Bank (IDB) approved a US$35 million loan for Argentina’s Knowledge Economy Export Support Program to assist the country by providing human capital and developing and adopting technologies based on knowledge in Artificial Intelligence (AI) and the promotion of its international insertion.

According to the IDB, Argentina has great potential to increase its participation in the exports of goods and services in this sector, which is currently at relatively low levels. The total percentage of world exports that comes from Argentina went from 0.45% to 0.26% in the last 10 years, which is explained by macroeconomic and sectoral factors.

This program covers different challenges, among which are the need to increase trained human capital, the lack of collaboration between the scientific and technological system and the productive sector, and the lack of capacities to promote the knowledge economy sector by national and subnational trade and investment promotion agencies.

To address these challenges, the program will implement actions aimed at training a generation with skills in advanced technologies demanded by companies with internationalization potential, as well as promoting the development and adoption of AI-based applications in exporting companies or with export potential.

Likewise, the loan will allow Argentina to implement activities to contribute to a greater internationalization of companies in this sector, which include the implementation of national, subnational and sectoral development strategies, and development actions and international positioning of the sector.

K. Tovar

Source: BN Americas

(Reference image source: Mathieu Turle, Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada IDB will boost the economy and technology in Argentina apareció primero en Bitfinance.

The Inter-American Development Bank (IDB) will allocate 73.5 million dollars to Colombia to promote the energy transition and to implement the Plan to Contain Deforestation in the Amazon.

The announcement took place during the bilateral meeting between the President of Colombia, Gustavo Petro, and the President of the IDB, Ilan Goldfajn, held this Wednesday within the framework of the World Economic Forum taking place in Davos (Switzerland).

In this context, it has been established that 70 million dollars from the IDB will be directed to strengthening the energy transition policy, one of the pillars of the Government of Colombia.

The remaining 3.5 million dollars will go to the Amazon basin through direct transfers for environmental conservation that help contain and stop deforestation, in coordination with local communities and under the leadership of the Colombian Ministry of Environment.

Source: dpa

(Reference image source: file)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada IDB will allocate strong investment to Colombia apareció primero en Bitfinance.

The new president of the Inter-American Development Bank (IDB), Ilhan Goldfajn, promised to ensure that the multilateral bank is the “most important” development institution for Latin America and the Caribbean, becoming a “reliable” partner and a center of experience and knowledge for the region.

In his first speech as president, Goldfajn identified social protection, climate change and investment in physical and digital infrastructures as the priority areas in which the organization will act under his recently inaugurated mandate, with the aim of “promoting” regional integration. and productivity.

“The people of Latin America need better jobs, safer streets, quality health care, better public services and other essentials of life to which they rightly aspire”, he said, adding that “I can think of no better institution than the IDB to help the region realize its hopes”.

Still, Goldfajn said these challenges were not created overnight and therefore will not be solved overnight. “I ask for your patience and persistence in the face of the enormous challenge of raising expectations for the future.”

K. Tovar

Source: El Pais

(Reference image source: Bloomberg)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada IDB commits to Latin America apareció primero en Bitfinance.

BME, through Iberclear, BBVA and the Inter-American Development Bank (IDB), completed the first issue in Spain of a bond listed on a regulated market and registered in blockchain technology developed by ioBuilders.

This platform may serve as the basis for future issues both in Spain and in Latin America and the Caribbean, according to BME in a press release.

The four firms (BME, BBVA, IDB and ioBuilders) have been working since last February on this project, which consists of the development of a blockchain platform that allows registration, secondary trading and management of the life cycle of a bond issued on a regulated market.

In the issue, smart contracts were used to carry out the distribution, sale, settlement and corporate events processes, using electronic money tokenized by BBVA for cash management throughout the life of the issue.

The project is part of the LACChain alliance, an IDB initiative to accelerate the use of blockchain technology with an impact on development, and will allow BBVA to export the technology to Latin America. The IDB has been advised by Garrigues.

The banking group chaired by Carlos Torres, in addition to being an electronic money tokenizer, has played other roles such as digital custodian, digital structurer and active bookrunner of the operation. Citi has been the agent entity and the investors of the bond have been Iberdrola and Renta 4.

K. Tovar

Click the link to subscribe for free to our news and media group on Telegram: https://t.me/G_ELSUMARIO_News

Source: BBVA

La entrada BME launches blockchain-registered bond apareció primero en Bitfinance.

The Inter-American Development Bank (IDB) approved a $300 million loan to support the energy transition process in Chile, according to a statement.

This is the second and last operation of a policy reform support program in the Andean country. The first $50 million operation was approved by the IDB in June 2021.

Among the actions to be implemented in this second operation are critical pricing processes to reflect the modernization of distribution regulation and guarantee an affordable electricity service, as well as accelerating the participation of the population in the use of clean and sustainable energies that displace fossil and polluting energies.

Likewise, it will support the decarbonization of the energy matrix and, among other measures, the formulation of energy scenarios and projections consistent with carbon neutrality in 2050, in order to update the Long-Term Energy Planning, the acceleration of the coal-fired plants, the elaboration of the first just transition strategy, and the regulation to facilitate intermittent renewable connections and electricity storage.

In addition, the program will advance in closing the gender gap by promoting equal pay, the inclusion of more women in the energy sector, and gender parity in civil society institutions associated with the energy sector.

On the other hand, it is expected to promote technological innovation with the approval this year of the National Electromobility Strategy, new regulations to define the rules for the implementation of electric vehicles in line with the Energy Efficiency Law; the launch of the vehicle replacement program of high distance, as well as the implementation of the regulation in green hydrogen and support to promote the first green hydrogen projects in the country.

The loan has a repayment term of 16 years, a grace period of 5½ years, and an interest rate based on SOFR.

Click the link to subscribe to our news and media group on Telegram: https://t.me/G_ELSUMARIO_News

Source: dpa

La entrada IDB grants loan to Chile for energy transition apareció primero en Bitfinance.

The Inter-American Development Bank (IDB) expects to close the year 2021 with almost $ 20 billion in financing for Latin America and the Caribbean.

The figure is the second highest in the history of the IDB and IDB Invest, and its main mission has been to help countries allocate these funds to various priorities, such as healthcare and digitization to action against climate change, supply chains and education.

The combination of IDB loan approvals, which amount to $ 14 billion, IDB Invest’s planned financial commitments, which amount to $ 5.5 billion, and private sector mobilizations, which amount to $ 2.8 billion, total $ 22.3 billion millions.

“This year we have shown how a 21st century IDB can empower countries to overcome unimaginable challenges and usher in a new decade of prosperity,” said IDB President Mauricio Claver-Carone.

Likewise, Clave-Carone highlighted that although the pandemic generated unprecedented challenges, it also opened “historic opportunities for Latin America and the Caribbean to grow, especially in areas that include digitization, nearshoring and supply chains.”

K. Tovar

Source: Infobae

La entrada IDB closes 2021 with great financing for Latin America apareció primero en Bitfinance.

The Inter-American Development Bank (IDB) granted a loan of 500 million dollars to Peru to strengthen the sustainability of fiscal management and support the recovery of the Andean country.

The loan, which has a repayment term of 20 years and an interest rate based on LIBOR, is the first in a series of two operations. It supports the implementation of reforms to increase tax collection, strengthen the quality of public investment for support economic and fiscal recovery, and improve the effectiveness of public spending.

The multilateral organization explained that the operation supports measures to strengthen fiscal and transparency rules that ensure a sustainable fiscal framework.

In line with this objective of fiscal discipline, the project includes the approval of legal regulations to improve the government’s collection capacity, grant temporary tax relief to companies, and increase the transparency of the tax system.

In terms of improvements in public spending management, the loan supports the introduction of regulations to strengthen and streamline public investment management, including improvements in the allocation of investment resources for regional governments.

K. Tovar

Source: Finanzasdigital

La entrada IDB grants loan to Peru for its tax reform apareció primero en Bitfinance.

The Board of Executive Directors of the Inter-American Development Bank (IDB) will hold the Annual Meeting of the Boards of Governors of the IDB and IDB Invest in Punta del Este (Uruguay) from March 17 to 20, 2022, as reported in a statement.

The event will be held using a hybrid format, that is, virtually and with a limited number of face-to-face participants.

The meeting will be attended by economic and rofinancial leaders fm the 48 IDB member countries who will analyze the economic recovery and investment opportunities in Latin America and the Caribbean.

This meeting will consist of a series of events and seminars to include private sector participation and highlight the agency’s work in the region. In addition, the event will focus on topics such as digitization, climate change, building a sustainable and inclusive economic recovery, and investment opportunities to drive the region’s resurgence after the pandemic.

All of this will include an ongoing dialogue on the IDB’s work to assess the institution’s role in supporting its member countries over the next few years. Traditionally, the IDB publishes its macroeconomic report during the Annual Meeting. In 2022 the report will focus on the growth prospects for the region.

2022 will mark the annual congregation of the IDB Board of Governors number 62 and the Board of Governors of IDB Invest number 36 (whose legal name is Inter-American Investment Corporation).

The Boards of Governors are the main decision-making bodies of the Bank. Most governors currently serve as finance ministers, finance ministers, or central bank presidents.

K. Tovar

Source: Swissinfo

La entrada IDB will hold its 2022 annual meeting in Uruguay apareció primero en Bitfinance.

The Inter-American Development Bank (IDB) approved a 50 million dollar loan for Chile with the aim of accelerating decarbonization in the Andean country and supporting the national strategy of producing green hydrogen by 2030.

Chile plans to phase out the coal plants, which in 2019 generated 36.7 % of energy and were responsible for 25 % of greenhouse gas emissions. The country’s goal is to reach carbon neutrality by 2050.

The program seeks to improve the regulatory framework of the energy sector through improvements in the regulation of the distribution market, encourage citizen participation in the use of clean energy and promote the participation of more women in the sector.

The initiative will also strengthen the adoption of policies and measures to advance the contribution determined at the national level, to promote sustainable development. Likewise, it will encourage the penetration of large-scale renewables into the energy matrix and advances with the long-term expansion plan.

Also, the action will promote electromobility through the energy efficiency law, with a view to making urban public transport completely electric by 2040. Additionally, the program will contribute to enabling and making viable the incorporation of new renewable energy sources and energy vectors, like green hydrogen.

This is the first operation in a series of policy support, consisting of two separate loans.

K. Tovar

Source: dpa

La entrada IDB grants credit to Chile to help decarbonization process apareció primero en Bitfinance.

The Inter-American Development Bank (IDB) granted Brazil a credit line of up to 1,000 million dollars to promote digital transformation in the South American country through better connectivity, the adoption of new technologies by the private sector, the training of digital talent and the modernization and improvement of public services.

This financing will be granted through a conditional line of credit for investment projects (Cclip), which will be available through three resource allocation channels: federal government agencies, state or municipal governments, and national or regional development banks.

The objective of the initiative will be to contribute to a better digital infrastructure to improve both the coverage and the quality of broadband services, as well as the creation of data centers and the improvement of international connectivity, to turn Brazil into a  inclusive digital regional hub.

Likewise, the action aims to promote the development, financing, adoption and use of digital technologies in the productive sector and the population, including the promotion of new digital technologies.

Other objective pursued by the initiative is to reduce the bureaucratization of services in public institutions to contribute to greater efficiency and transparency in public management.

The Brazilian State of Ceará will be the first state to benefit from financing with a 28 million dollar loan under the Digital Government axis, dedicated to implementing the digital transformation of the Judiciary sector, increasing its efficiency and user satisfaction.

This program will help improve productivity in the provision of services and the effectiveness of the management of the Court of Justice of the State of Ceará (ECJ).

K. Tovar

Source: dpa

La entrada IDB provided financing to Brazil for its digital transformation apareció primero en Bitfinance.