Cabei reactivates US$50mn Argentina science and technology program

The Central American Bank for Economic Integration (Cabei) has reactivated a US$50mn program to finance science and technology projects in Argentina.

The Profocaid program was approved in 2015, but implementation was lagging. 

Argentina’s research, development, and innovation (R&D+I) agency opened three calls for projects seeking financing. The agency’s president, Fernando Peirano, told a press conference that the funds will allow the promotion of 350-400 innovation projects and finance laboratory equipment.

About 5,500 of the 8,000 projects in the agency’s portfolio are science related. It also impacts some 1,700 SMEs in Argentina, according to Peirano.

The first three calls involve 3bn pesos (US$30.2mn) for applied science projects, preparing for scientific tasks, and novel research.

Cabei is financing four other projects for US$50mn each in Argentina. They focus on industry 4.0 SMEs, agricultural development, the gender equality ministry, and health units in prisons and border centers.

The SME industry 4.0 initiative was approved in March and is being implemented.

R&D investments reached 99.7bn pesos in 2019, according to the latest report by the science, technology and innovation ministry.

COOPERATION

Cabei will also be a nexus between Argentina and Central America to spur research collaboration and development.

The bank is about to open an office in Argentina and a mission will arrive in November to visit companies seeking financing, Cabei’s Argentina head, Maximiliano Alonso, told a press conference.

Alonso also said Argentina’s crisis is being overcome “in collaboration between the public and private sectors.”

Cabei is analyzing investment options in the country and even the issue of bonds in local currency.