The World Bank Board of Directors approved a US$200 million loan to promote sustainable growth in Argentina, driven by innovation and focused on the creation of technology-based companies, support for entrepreneurs, and access to private capital. The project, which will be executed by the National Agency for Scientific and Technological Promotion, seeks to strengthen the national innovation system, and promote the growth and productivity of the private sector, through the support of public-private partnerships, financing for development, adoption of technology for small and medium-sized enterprises, and support for entrepreneurs.

Additionally, the project will promote innovative financing ecosystems, attracting private investment for innovative start-ups. There will be special emphasis on promoting low-carbon technologies, circular economy initiatives and climate-smart developments, and it will prioritize initiatives led by women, who have more difficulties to access financing. It is also planned to support young people in vulnerable situations so that they can become entrepreneurs.