IDB earmarks $26.5M for 2006 investments

The Inter-American Development Bank plans to spend $26.5 million for the venture capital industry in Latin America this year. The package includes $9 million for two investment funds in Brazil, $5 million for two projects in Argentina and another amounting to $7.5 million in Central America. “Our focus is Brazil and Central America and we are also starting back in Argentina as well as in Chile,” IDB senior investment officer Susana Garcia-Robles said. Since 1996, the agency has provided $200 million to various investment funds for technology-based ventures in the region. (Source: IDB approves investments for US$26.5mn this year/Business News Americas)

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