The Inter-American Development Bank today announced the approval of a $10 million loan to Paraguay to increase the productivity and efficiency of small and medium-sized enterprises.
The project is designed to stimulate the market for specialized business development services. It will finance technical assistance and training to help small and medium-sized firms absorb new production and management techniques, as well as to apply appropriate information and communications technologies to their business operations.
Matching funds will be made available to help enterprises assess their current position and to prepare and carry out development plans that will make them more competitive.
The total cost of the program, to be carried out by the Ministry of Industry and Commerce*, is $12.5 million.
The IDB loan is for a 20-year term, with a four-year grace period, at the currency pool variable annual interest rate, now 6.29 percent. Local counterpart funds total $2.5 million.