Program will broaden export base both nationwide and in border areas, improve trade promotion and intelligence to reach out to new markets
Paraguay will strive to increase and diversify its exports base with the launch of the Entrepreneurial Development Services Support Program, an initiative that will be supported by a $10 million loan from the Inter-American Development Bank (IDB).
The program will broaden both the export base and markets served; boost authorities’ ability to manage trade promotion and intelligence efforts; and expand and diversify the export offer in the country’s border areas.
To this end, it will support corporations’ efforts to enhance their exports basket by incorporating new products and services and targeting new markets, and adding value to traditional overseas shipments through a number of innovative corporate development services that will help include new companies, in particular small and medium-sized enterprises.
The program will focus on six business platforms in the areas of food, manufactured goods, logistics, forestry products, tourism, services and new businesses. In all these areas, it will support individual and collaborative business ventures, providing technical assistance, specialized training, technological transfers for overseas technological business missions, reverse missions by international experts, training to technicians and businessmen in other nations, and development of new markets, products and services.
Additionally, it will strengthen the Investments and Exports Network’s (REDIEX) trade intelligence and promotion management capabilities, helping it deliver more and better information to beneficiary companies, publicize the instruments and results of its support to the business sector, and sustain a program monitoring and evaluation system.
The $10 million IDB loan is for a 25-year term, with a 7-year grace period and a LIBOR-based interest rate.
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.