IDB Approves $300 Million Credit Line to Boost Innovation and Productive Development in Uruguay

WASHINGTON — The Inter-American Development Bank (IDB)’s Board of Executive Directors has approved a Conditional Credit Line for Investment Projects (CCLIP) of $300 million to support Uruguay’s productive development. As part of this new credit line, the Board also approved an initial loan of $30 million to boost productivity through innovation.

The program will finance long-term scientific research projects, promote the transfer of scientific and technological knowledge, strengthen science and technology-based companies, and foster innovation in the public sector. In addition, a pilot program for technology guarantees will be implemented to facilitate access to financing for innovative projects.

More than 400 researchers, companies, and entrepreneurs in the country will benefit from this operation, which will be executed through the National Research and Innovation Agency (ANII).

The new CCLIP consolidates the IDB’s work in Uruguay in key areas such as internationalization, innovation, and talent development, and aligns with the IDB Group’s strategy with Uruguay, which promotes inclusive and sustainable growth.

The first operation will be financed with $30 million from the IDB, a counterpart contribution of $6.6 million from ANII, and $1 million in co-financing from the National Guarantee System (SiGa).

The loan, under the specific investment modality, will have a repayment term of 22.5 years, an eight-year grace period, and an interest rate based on SOFR.