The Multilateral Investment Fund (MIF) of the Inter-American Development Bank (IDB) has approved a US$5m loan for Chile to finance development of technology-based enterprises and to help small- and medium-sized exporting enterprises (SMEs) capitalize on trade agreements.
The MIF will provide a US$3m loan and a US$530,000 grant for technical assistance to help establish a seed capital facility for the development of technology-based enterprises.
Chilean development organization Fundaciуn Chile and other business support organizations will administrate the project, which involves the creation of a network of institutions to offer support and help identify opportunities, a network of angel investors and the initial seed capital facility.
