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)

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