CABEI to support research and development in Argentina

Tegucigalpa August 7, 2015. – The Central American Bank for Economic Integration (CABEI) approved $50 million to the government of Argentina for the partial financing of an initiative denominated the “Program for the Strengthening of Research and Development Skills” (PROFOCAID).

CABEI’s objective in supporting the program is to foster innovation skills in the fields of science, technology and productivity. In addition the program will improve the ability to generate scientific knowledge and technologies in the framework of the key focus areas and strategies established in the Argentinian National Plan for Science, Technology and Innovation (PNCTI).

The program will also help to meet the challenge of knowledge creation to further the generation of new technologies that will improve the competitiveness of small and medium enterprises.

It is noteworthy that this is CABEI’s first operation in Argentina since its incorporation as a non-regional member in 1995. It is also the Bank’s first operation supporting activities specifically promoting scientific research and the development of knowledge and innovation.

In this regard CABEI Executive President Dr. Nick Rischbieth stated that the initiative is a manifestation of the Bank’s commitment to promoting the ties of its non-regional countries with the Central American countries by financing applied research projects aimed at increasing inter-regional mobility and scholarships to enable regional professionals to pursue doctoral studies in research areas in Argentina.

Dr. Rischbieth added that, “We expect the inter-institutional relationship to continue strengthening as we explore new areas for cooperation in benefit of CABEI’s member countries.”