MSMEs are a fundamental part of the productive fabric of Argentina, since they they represent 99.4% of all companies, employ 64% of registered wage earners and account for 51% of the total wage bill. In addition to MSMEs, the project It will benefit entities that offer technological services with equipment and training, workers who will be trained in digital skills, and women entrepreneurs and people with disabilities who will receive support adapted to their needs.
This program will incorporate technical and technological services that help MSMEs to adopt new technologies, adapt to a low-emissions economy that is resilient to the impacts of climate change, and incorporate the gender and diversity perspective. Also Technical assistance and training will be provided to approximately 1,300 companies to support innovation projects.
This operation is aligned with the Vision 2025 – Reinvest in the Americas: A Decade of Opportunities, created by the IDB to achieve the recovery and inclusive growth of Latin America and the Caribbean, in the areas of support for small and medium-sized enterprises, digital transformation, promotion of gender equality, and the fight against climate change.
The IDB loan of US$80 million has an amortization period of 25 yearsa grace period of five and a half years and an interest rate based on SOFR.
“Argentina needs dollars destined to change the productive matrix and this new credit goes exactly in that direction. These are funds that are going to be destined for SMEs to make a technological and productivity leap, so that they are more competitive for our economy and for export more and better”, said the Secretary of Industry and Productive Development, Jose Ignacio de Mendiguren. “This agenda is what Economy Minister Sergio Massa is promoting to stabilize the economy and build a bridge to sustained growth and development of the country,” he added.
Source: Ambito
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