The Board of Executive Directors of the Inter-American Development Bank (IDB) has approved a $100 million loan to strengthen business productivity in Peru by expanding investment in innovation and supporting the growth of innovative enterprises across the country. The initiative targets long-standing productivity gaps that limit the competitiveness of Peru’s micro, small, and medium-sized enterprises (MSMEs).

The program aims to increase private and public investment in innovation, finance the scaling up of new ventures, and reduce technological gaps among MSMEs. It also seeks to catalyze greater private financing for innovation and ensure that support reaches firms in all regions of Peru, not only major urban centers. By improving access to technology, skills, and financing, the program

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