IDB highlights Paraguay's growth and funds Uruguay innovation

The Inter-American Development Bank (IDB) has highlighted developmental progress in Paraguay and announced new funding for Uruguay to bolster innovation and exports.

In Paraguay, an IDB Impact Report noted significant advancements in agribusiness and information technology. Supported by BID Invest, a major agricultural input distributor expanded its grain aggregation and export operations, increasing grain export values from USD 151 million in 2017 to USD 308 million in 2021. Additionally, a USD 90 million loan for digital policy reforms helped improve Paraguay’s digital governance and electronic government indicators, raising its score on the ITU G5 Reference Index from 38.6 in 2021 to 42.7 in 2023.

In Uruguay, the IDB, the Ministry of Economy and Finance, and the Uruguay Innova program signed an agreement to allocate USD 20 million to Uruguay XXI. This funding aims to strengthen national export promotion through the Uruguay Internationalization Promotion Program. The initiative aligns with Uruguay’s National Strategy for Development and its National Strategic Plan for Science, Technology, and Innovation, focusing on increasing productivity through technological advancement.